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*FULL TEXT: Treasury Responds To High Court Judgement On 2% Tax*

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The Ministry of Finance And Economic Development has issued a statement in response to today’s High court judgement that set aside 2% tax imposed on all electronic transactions last year by then-new Minister Mthuli Ncube. Read The statement below.

> 18 September 2019

> RE: PRESS RELEASE ON COURT JUDGMENT ON 2, INTERMEDIATED MONEY TRANSFER TAX

> The Attorney General has brought to my attention the judgment on SI 205/2018 pertaining to the collection of Intermediated Money Transfer Tax.

> That judgment will not affect the collection and levy of the Intermediated Money Transfer Is because the collection of the Tax under that Statutory Instrument 205/2018 was subsequently pvalidated by Parliament under the Finance Act No. 1 of 2019.

> Consequently, the 2% tax will continue to be levied.

> Hon. Prof. M. Ncube
MINISTER OF FINANCE AND ECONOMIC DEVELOPMENT

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