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*Govt To Raise $3,4 Billion From Mthuli Ncube's 2% Per Dollar Tax* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?gb Addressing delegates at the Zimbabwe National Chamber of Commerce (ZNCC) Matabeleland region 2018 mid-term monetary policy statement review on Tuesday, Peter Mgodi said Government has the potential to raise $3,4 billion annually through the newly introduced Intermediary Money Transfer Tax of two cents per dollar. Mgodi’s projections are based on last year’s total transactions of 1,7 billion. Said Mgodi: ---------- *Latest itel S24 now available on Pindula* $124 Cash on Delivery in Harare & Bulawayo. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > The problem now is that this is now an ad valorem tax (a tax whose amount is based on the value of a transaction). The assumption is that others will be transferring $20 others will be transferring thousands of dollars while others will be transferring millions. And when we average the transactions and come to $100, it means we will make $2 per transactions and not five cents and therefore the minister’s projection will be $3,4 billion. More: Herald _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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