News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*Banks Should Take Mthuli Ncube, Govt To Court Over 2% Tax- Coltart* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ns Former Education Minister David Coltart has said that he expects commercial banks to challenge the legality of Statutory Instrument (SI) 205 of 2018 saying they have the primary duty of care towards their clients not Government. Last Friday, Finance Minister Mthuli Ncube gazetted SI 205 of 2018 (Rate and Incidence of Intermediated Money Transfer Tax) Regulations. Coltart said if commercial banks do not challenge SI 205 of 2018 it will be another negligent act by them. Speaking on Twitter Coltart said: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* *LATEST: itel S24 (128) $124; S24 (256GB) $159* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- > Zimbabweans’ anger has been directed against the RBZ & Ministry of Finance regarding the destruction of their deposits. However commercial banks are also complicit by negligently not seeking to protect their clients’ money. I expect them to challenge the legality of S.I. 205/18. > If Commercial banks do not challenge the legality of S.I. 205/18 and simply start deducting money from their clients’ accounts this will be yet another negligent act by them. Banks’ primary duty of care is towards their depositors not Government. Top Harare lawyer Chris Mhike told the Daily News yesterday that Statutory Instrument (SI) 205 is defective and ignores the letter and spirit of Section 3 (3) of the Finance Act, which compels the Finance minister to present to Parliament for deliberation, a Bill carrying proposed changes to financial laws. *Also Read:* *Mthuli Ncube Gazettes Regulations On 2 Percent Money Transfer Tax, Tax To Be Collected Starting Tomorrow* *New Tax Accommodates Everyone Who Matters Because Of $10 And $10 000 Caps – Mthuli Ncube* *We Will Not Please The Taxpayer, We Want To Please The Economy- Mnangagwa On Mthuli Ncube’s 2% Tax* _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
Copy to clipboard
Give us Feedback
Full Name
WhatsApp Number
Feedback
Submit
Feedback