2% Tax To Raise US$600 Million In 2019 - Mthuli Ncube4 years ago
The government has revealed to the International Monetary Fund (IMF) that the two per cent electronic transaction tax will realise over US$600 million this year.
This was outlined by Finance and Economic Development Minister Mthuli Ncube in the government progress report on economic reforms submitted to the IMF.
The two per cent tax was introduced in October 2018 as the government sought to widen its revenue base.
It is one of the most unpopular among a raft of austerity measures introduced by the government.
In November 2018, US$52.5 million was raised in November while US$103.8 million was raised in December, giving a total of US$166.2 million for 2018.