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*Cross: Mthuli Collects $300m Per Day From 2 Cents Tax* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?rb Economist Eddie Cross said Treasury is getting ZWL$300 million per day from the 2 cents tax per dollar on mobile money and electronic financial transactions introduced in October 2018. Cross made the revelations while speaking at the CEO Africa Roundtable in Harare on Friday. ---------- Latest itel A06 on Pindula: 32GB storage, 4GB RAM $69 USD WhatsApp: +263715068543 Calls: 0772464000 ---------- He also called upon Finance and Economic Development Mthuli Ncube to increase the transactional tax from the current 2% to 5% saying the 2% tax was “nothing”. Cross said: > You know how much we transacted for the past twelve months, we transacted one trillion RTGS dollars electronically, that’s 300 million RTGS dollars per day. > You put a 5% tax, no collection charges whatsoever, you could scrap PAYE, (and) you could scratch corporate tax. You would have to collect anything. > You wouldn’t have accounts to submit to ZIMRA, ZIMRA wouldn’t need 300 000 staff, they wouldn’t need an audit, your PAYE would disappear. > People would earn their income without tax to me everybody wins, quite compelling. Recognise that this is where the world is going and I think it is a welcome development. Cross is also a member of the Reserve Bank of Zimbabwe (RBZ) Monetary Policy Committee (MPC) chaired by the central bank’s governor, John Mangudya. *More: NewZimbabwe.com* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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