Zim bankers slam money transfer tax
In a document submitted to Finance minister Mthuli Ncube this week, sharing bankers’ expectations for the 2024 mid-term budget review, BAZ called for the tax to be reduced.
By Mthandazo Nyoni and Blessed Ndlovu
Jul. 19, 2024
Thriving banking sector, shrinking confidence
Reports from most people, as well official data, indicate receding deposits and increased withdrawals as economic players prefer “under the pillow” banking to traditional banking.
By Tinashe Duma
May. 17, 2024
Govt ‘regrets’ tax hike
Mnangagwa said the IMTT hike was a social and economic experiment to see how people and businesses would react upon which it would be reviewed.
By Priviledge Gumbodete
May. 10, 2024
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Banks raid accounts over IMMT ‘arrears’
The IMTT on foreign and local currency transactions is pegged at 1% and 2%, respectively.
By Tafadzwa Mhlanga
Dec. 31, 2023
Currency risk unsettles insurance sector
Katoma also said the sector raised concerns about the Intermediated Money Transfer Tax (IMTT), which is levied on each money transfer made.
By Melody Chikono
Nov. 24, 2023
Piggy’s Trading & Investing Tips: Investing as a poverty alleviation tool
Government, regulators, pension funds and other related institutions need to both encourage and support savings at all levels of the economy.
By Batanai Matsika
Jul. 14, 2023
More pain as Ncube ignores ordinary citizens in budget
Ncube, in his budget presentation, maintained the unpopular 2% Intermediated Money Transfer Tax (IMMT).
By Tinashe Kairiza
Dec. 2, 2022
Govt in $174bn expenditure overrun
Expenditure on goods and services which stood at $308,6 billion, were channelled towards operations.
By Staff Reporter
Nov. 26, 2022
Groundswell of caution over ‘punitive’ IMTT...Captains of industry want 2% tax scrapped
The IMTT’s third quarter performance was a forecast busting, according to Zimra, which said it was 3% ahead of targets.
By Kudzai Kuwaza
Nov. 18, 2022
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Chivayo suffers huge Starlink blow…Scandals cost ‘motor mouth’
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By Donald Nyandoro and Nqobani Ndlovu
Sep. 8, 2024
