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Staff Development Fellows: Chemical & Process Systems Engineering x4

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Mobile Equipment Operators (TLB, Bulldozer, Front-End Loader, Excavator and Grader-Final Cutter)

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Responding to questions from delegates at the 3rd annual Public Sector Audit Conference in Harare yesterday, President Mnangagwa said the two cents intermediary money transfer tax is not a hindrance to business.
He said the recently introduced tax is helping Zimbabwe to narrow its budget deficit. Said Mnangagwa:
<blockquote>I do not think it is a hindrance. It has helped us a lot now to narrow the deficit gap in our economy. Yes, initially when it was articulated by the Minister of Finance and Economic Development (Professor Mthuli Ncube) it had overlooked a lot of people who in our view ought to have been left out. He did his best to re-explain it and move out from compliance many categories whom we think would cause a prohibitive manner in doing business.</blockquote>
Mnangagwa said the tax will be reviewed.
More: <a href="https://www.chronicle.co.zw/ed-says-2-tax-paying-dividends/">Chronicle</a>

Pindula News

2% Tax Already Producing Results- Mnangagwa

In an interview with the Daily News yesterday, Finance Minister Mthuli Ncube said the 2% per dollar tax was reasonable compared to similar taxes on the continent.
He said the new tax is an attempt to have everyone to pay their taxes. Said Ncube:
<blockquote>So the solution to containing the budget deficit is two-fold. There is the revenue expansion side and then there is the cost containment of expenditure. It also happens that the Zimbabwe economy has become more informalised, while more people are also on electronic platforms. So, we felt that the best way to get everyone to pay their taxes, to have an inclusive tax regime, is to target electronic transactions. And by the way, our rates are not even the highest on the continent. There are some countries — I don’t want to name these countries — which take 10 percent, 12 percent and so forth. So, two percent is not the highest.</blockquote>
More: <a href="https://www.dailynews.co.zw/articles/2018/10/20/minister-calls-for-political-reforms">Daily News</a>

2% Tax Reasonable Compared To Similar Taxes In Some African Countries- Mthuli Ncube

The government has gazetted the 2 percent money transfer tax which was announced by Minister of Finance and Economic Development Mthuli Ncube. The government gazetted Statutory instrument 205 of 2018 Finance (Rate and Incidence of Intermediated Money Transfer Tax) Regulations, 2018 which states that the tax will be chargeable from the day after the promulgation of the regulations. Here is an excerpt from the new regulations
<blockquote>IT is hereby notified that the Minister of Finance has, in terms of section 3 of the Finance Act [Chapter 23:04], made the following regulations: —
PART I
PRELIMINARY
Title
1. These regulations may be cited as the Finance (Rate and Incidence of Intermediated Money Transfer Tax) Regulations, 2018.
PART II
 Amendments to Finance Act [Chapter: 23:04]
Amendment of section 22G Cap. 23:04
2. With effect from the day after the promulgation of these regulations, section 22G the Finance Act [Chapter 23:04] is repealed and the following is substituted:
“”22G Intermediated Financial Transactions Tax
With effect from the day after the promulgation of these regulations, the intermediated money transfer tax chargeable in terms of section 36G of the Taxes Act shall be calculated at the rate of zero comma zero two United States dollars on every dollar transacted for each transaction on which the tax is payable:
Provided that if a single transaction on which the tax is payable is equivalent to or exceeds five hundred thousand United States dollars, a flat intermediated money transfer tax of ten thousand United States dollars shall be chargeable on such transaction.”
 </blockquote>
Legal watchdog Veritas had previously said that the Minister’s announcement was<a href="https://news.pindula.co.zw/2018/10/05/full-text-finance-ministers-tax-not-legally-enforceable-minister-cannot-change-act-of-parlimanet-via-ministerial-statement-veritas/" rel="noopener" target="_blank"> illegal because the Minister does not have the power to change an act of parliament through a ministerial</a> statement. However, Veritas went on to say,
<blockquote>The Minister’s should have been advised to gazette regulations changing the rate of the tax on the same day as his statement, the 1st October. He has the power to make such regulations under section 3(2) of the Finance Act.</blockquote>
The minister appeared to have since complied whith this advice. Veritas went on to say,
<blockquote>“If any provision contained in regulations referred to in subsection (2) is not confirmed by a Bill which –
(a) passes its second reading stage in Parliament on one of the twenty eight days on which Parliament sits next after the coming into operation of the instrument: and
(b) becomes law not later than six months after the date of such second reading;
that provision shall become void as from the date specified in the instrument as that on which the rate of tax duty, levy or other charge shall be amended or replaced, and so much of the rate of tax, duty, levy or other charge as was amended or replaced, as the case may be, by that provision shall be deemed not to have been so amended or replaced.”
This means that if the time limits for confirmation are not complied with, any changes they may have made will fall away as if never made at all [same Act, section 3(3)] [i.e. taxes, etc collected might have to be refunded]</blockquote>

Mthuli Ncube Gazettes Regulations On 2 Percent Money Transfer Tax, Tax To Be Collected Starting Tomorrow

The ruling Zanu-PF party has said that Minister of Finance and Economic Development Mthuli Ncube must realise that the party is supreme to the government and should always consult it before making any policy pronouncements. The ruling party has distanced itself from the Fiscal Measures which were announced by Ncube which have been blamed for the spiralling of foreign currency exchange rates on the black market. This has resulted in shortages of basic commodities as consumers seek to take advantage of the situation and to protect their earnings.
Zanu-PF Secretary for Administration Obert Mpofu said,
<blockquote>Yes, that is what I have said. That we were not consulted and we think the current problems are tell-tale signs of teething problems of the new arrangement which Zanu PF is working to resolve. I think government is used to coming up with policies after their deliberations which it then pronounces. You will realise that Zanu PF did not have a working system with permanent people, but the situation is different now and we have a functional structure that must be consulted before any policy pronouncement.</blockquote>
Zanu-PF’s spokesperson Simon Khaya Moyo added,
<blockquote>There could have been a lapse in communication, but now there is no conflict. The minister indicated to the nation that the tax will only be implemented after it is gazetted and we are happy with that…The minister has the full support of the party but there must be realisation that the party was supreme.</blockquote>
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More: <a href="https://www.newsday.co.zw/2018/10/zanu-pf-rants-over-2-tax/" rel="noopener" target="_blank">NewsDay</a>

Mthuli Ncube Must Realise That Party Is Supreme And Consult It Before Any Policy Pronouncement - Zanu-PF

The ruling Zanu-PF party has distanced itself from the fiscal and monetary policy statement which were recently announced by Finance Minister Mthuli Ncube and Reserve Bank of Zimbabwe governor John Mangudya. The policy statements resulted in an increase in food prices and a shortage of basic commodities as the exchange rates for foreign currency started skyrocketing. Zanu-PF’s Secretary for Administration, Obert Mpofu <a href="https://news.pindula.co.zw/2018/09/16/zanu-pf-politburo-members-will-run-govt-through-the-ministers-party-is-supreme-mpofu-explains-rebirth/" rel="noopener" target="_blank">who of late has been preaching that the party is superior to government</a> distanced the party from the new policies saying that the party had not been consulted on the new measures. Appearing on national television, Mpofu said,
<blockquote>The so-called the new financial reforms which have caused price hikes and the response you have seen from business were done without consultations and Zanu PF will not allow that.</blockquote>
However, Mpofu’s assertions seem to contradict President Emmerson Mnangagwa who was unapologetic about the 2 per cent tax on money transfers recently announced by Ncube.  Mnangagwa insisted that the government is looking at pleasing the economy and not the taxpayer. Said Mnangagwa,
<blockquote>We will not please the taxpayer, no, we want to please the economy of the country, not the individual. The individual, myself, yourself must make sure that we produce and produce and produce. We need productivity, productivity, for us to earn the foreign currency which we can use to modernise and retool both industry and commerce. It will not come from anywhere but from productivity.</blockquote>
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More: <a href="https://263chat.com/obert-mpofu-defies-ed-throws-mtuli-ncube-under-the-bus/" rel="noopener" target="_blank">263Chat</a>

Mthuli Ncube Did Not Consult Us On Fiscal, Monetary Policies: Zanu-PF Distances Itself

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:
<blockquote>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.</blockquote>
More: <a href="https://www.herald.co.zw/govt-to-raise-34bn-from-2-cents-tax/">Herald</a>

Govt To Raise $3,4 Billion From Mthuli Ncube's 2% Per Dollar Tax

Minister of Finance and Economic Development Mthuli Ncube has said that the government will protect people’s savings by preserving the value of real-time gross settlement (RTGS) bank balances at an exchange rate of 1:1 to the United States Dollar. However, while giving a presentation at Chatham House in the United Kingdom, Ncube admitted that Bond Notes (and RTGS ) are not equal to the United States dollar. <a href="https://news.pindula.co.zw/2018/10/09/bond-note-not-equal-to-usd-will-need-to-be-demonetized-mthuli-ncube/" rel="noopener" target="_blank">The minister said that he was not going to argue with the market on this matter and suggested that bond notes will need to be demonetized at some point in the future</a>. The Ministers’ new position seems to be in line with Reserve Bank of Zimbabwe (RBZ) governor <a href="https://news.pindula.co.zw/2018/10/10/full-text-govt-will-protect-peoples-savings-by-maintaining-exchange-rate-at-11-to-usd-mthuli-ncube/" rel="noopener" target="_blank">John Mangudya who said that it would be suicidal to allow the market to determine the exchange rate.</a>
We publish the statement below in full:
<blockquote>THE NEED FOR ECONOMIC AND CURRENCY REFORMS
Further to the various measures that Government is putting in to accelerate economic reforms that are necessary to right-sizing the economy, it is critical to restate Government’s great commitment to reducing fiscal imbalances which are the root cause of the many challenges the economy is facing.
The challenges include cash shortages and the proliferation of foreign exchange parallel market rates which have a negative effect on prices. These challenges require that Government position the economy on a strong footing by implementing reforms that include cutting on government expenditure, working towards import parity pricing system, increasing efficiency on government delivery systems and fast-tracking the State Owned Enterprises reforms, among a host of reforms.
These reforms shall be accompanied by a strong and sustainable currency reform system which will follow after the execution of the above reforms. This is necessary to ensure that any currency reform programme that the Government would put in place is effective and that it has minimum disruption to the business.
Accordingly and in view of the need for an orderly currency reform programme that will be followed when the economic fundamentals are right to do, the country shall continue to use the multi-currency system which was put in place by Government in 2009. This system entails that foreign exchange earners are not prejudiced of their regulatory foreign exchange receipts and that those who do not earn foreign exchange have access to foreign exchange through the banking system as is per the current policy of foreign exchange management system. In parallel, the Reserve Bank shall continue to maintain adequate resources for the import of essential commodities.
Over and above the Nostro Deposit Protection Guarantee from Afreximbank, we are also reinforcing Nostro foreign currency accounts with a statutory instrument to guarantee that these are private deposits, and neither the Reserve Bank nor government has any access to them. 
Government recognise concerns surrounding RTGS deposits, and we commit to preserve the value of these balances on the current rate of exchange of 1 to 1, in order to protect people’s savings.
Hon. Prof. Mthuli Ncubc 
Minister of Finance anti Economic Development 
10 October 2018</blockquote>

Full Text: Govt Will Protect People's Savings By Maintaining Exchange Rate At 1:1 To USD: Mthuli Ncube

Labour body the Zimbabwe Congress of Trade Unions (ZCTU) has accused President Emmerson Mnangagwa of being the same as his predecessor former President Robert. This comes after Mnangagwa said that the 2 per cent tax on all money transfers which was announced by Finance Minister Mthuli Ncube was a necessary pain. The ZCTU has planned to demonstrate against the tax tomorrow, but the police have banned the protest citing the cholera outbreak.
Speaking to NewsDay, ZCTU president Peter Mutasa said,
<blockquote>Mnangagwa is taking from his creator Mugabe. If you look at the process of policy making, this arbitrary action has no place in modern economies and modern states…In modern states, the government should start with the green paper and white paper and invite stakeholders for their input. Had they done this with the monetary policy, we would not be where we are. Nothing has changed and he has failed dismally, but he has the chance to redeem himself and he can do this by removing this policy.</blockquote>
More: <a href="https://www.newsday.co.zw/2018/10/zctu-police-head-for-clash/" rel="noopener" target="_blank">NewsDay</a>

Mnangagwa Just Like Mugabe: ZCTU On 2 Percent Tax

Minister of Finance and Economic Development, Mthuli Ncube has said that his new 2 percent tax on money transfers is progressive because it has capped the burden for both the wealthy and the poor. According to Ncube, the poor are protected because they do not have to pay tax for any amount below $10 while the wealthy are protected because they can only pay a maximum tax of $10 000. In an interview with NewsDay, Ncube says
<blockquote>I think it’s fair. What we have done is we have capped the burden for the wealthy and companies and also capped the burden for the poor also, so we have impacted both ends of the spectrum and that way is progressive… I will be very precise, what it does in terms of transactions, those who are spending $10 and below are not going to pay the tax, so that is the bottom of the pyramid, that is poor. They are exempt from the tax…There is a cap on how much anyone can pay in terms of transaction tax, which is $10 000. So this is really impacting on corporates, private companies because they were being impacted as well…We are the tax collector, so the combination of exemptions of the flow in terms of the $10, in terms of the cap on the amount of $10 000, we believe that we have managed to accommodate everyone who matters and the tax, therefore, is more progressive than regressive.</blockquote>
More: <a href="https://www.newsday.co.zw/2018/10/im-fixing-a-problem-bleeding-the-economy-mthuli/" rel="noopener" target="_blank">NewsDay</a>

New Tax Accommodates Everyone Who Matters Because Of $10 And $10 000 Caps - Mthuli Ncube

The Zimbabwe Republic Police (ZRP) has banned a planned protest by labour body Zimbabwe Congress of Trade Unions (ZCTU) which was scheduled for Thursday. The ZCTU wanted to protest against the 2 percent money transfer tax which was announced by Finance Minister Mthuli Ncube last week. The police said that all public gatherings are prohibited due to the Cholera outbreak in Harare.
We publish the statement from the police in full below:
<blockquote>The Zimbabwe Republic Police wishes to advise members of the public that the directive by the Ministry of Health and Child Care and Ministry of Local Government, Public Works and National Housing to ban public gatherings in the Central Business Districts and other public areas still stands. Therefore, the organisers of the intended demonstrations by ZCTU and its affiliates should take note of the Government’s directive particularly the movement of large numbers of people from one point to another which includes cholera epicentres.
The on-going operation by local authorities and other stakeholders has indicated that the cholera outbreak is not yet over particularly in Harare. Members of the public are accordingly warned that if anything turns nasty those organising the demonstrations will be held responsible, especially with regards to the maintenance of law and order.
The ZRP urges members of the public to continue observing peace and allow the security services and other stakeholders to ensure that there is security and order as the relevant authorities step up efforts to end the cholera outbreak.
(NYATHI. P) Assistant Commissioner 
Senior Staff Officer (Press and Public Relations) 
to The Commissioner General of Police 
POLICE GENERAL HEADQUARTERS</blockquote>
Interestingly though, church gatherings and football matches have gone on as scheduled despite the ban.  The University of Zimbabwe (UZ) graduation ceremony which was previously postponed due to the cholera outbreak is also set to proceed tomorrow.

Police Ban ZCTU's Demonstration Over 2 Percent Tax, Say Cholera Outbreak Not Yet Over

President Emmerson Mnangagwa has reacted to the Fiscal Measures and Monetary Police statements presented last week by urging Zimbabweans to be patient and realistic. The president called for calm saying that the road ahead is long and sometimes bumpy but there is no other alternative. The statement seems to discredit reports which claimed that Finance Minister Mthuli Ncube imposed the 2 percent tax without consulting Mnangagwa. We publish the statement below in full.
<blockquote>Last week, Minister of Finance Mthuli Ncube, drawing on his vast experience as chief economist and vice president at the African Development Bank (AfDB), announced a series of measures to reform and revive our economy, and put us on the path to steady economic growth. Cognisant of the scale and urgency of the challenges facing us, our plan is bold and far-reaching, and will have the desired effect.
I have read your comments and understand the difficulties many face, and Government will do all in its power to minimise them. We are already taking the lead by cutting back on unnecessary spending. The only way to a stronger economy is to restructure, rebuild and reform. We must all be realistic. Whatever some may claim, there are no silver bullets or quick fixes. There is no need to panic, and Government is guaranteeing the availability of all essential commodities, including fuel. We are on a shared journey to a better and more secure future. The road is long, winding and at times bumpy, but there is no other way. This is the road to a middle-income economy, and if we travel it together, with patience and purpose, we will realise our vision.</blockquote>

We Must Be Realistic, There Are No Quick Fixes: Mnangagwa Responds To Mthuli Ncube's Tax Increase 

The leader of the Agenda of People’s Alliance (APA) and former cabinet minister Nkosana Moyo has spoken out against Finance Minister Mthuli Ncube’s decision to impose a 2 percent as all money transfers. Moyo was passing the burden of government’s wasteful spending instead of taking steps to curb the government’s expenditure. Said Ncube,
<blockquote>The minister is trying to change the mix of the sources of government funding as well as reduce the quantum of borrowing. In principle, there is nothing wrong with that objective. The trouble is that he has rushed to increase taxes without thinking through the implications on the economy. The Prof. should have a better understanding than a lot of others in our population. The Zimbabwean economy needs to be unburdened of over-taxation. We are the most uncompetitive economy in the sub-region because government looks for all opportunities to get money out of people’s hands rather than aiming to get more tax revenues from a growing economy.
Raising the transaction tax creates opportunities for more spending rather than cutting down on spending. It also shifts responsibility to the already overtaxed citizen rather than putting pressure on the administration to cut down on wasteful spending. In situations like this, it is not only what you do, but also the prioritization and sequencing that will determine the efficacy of your actions.
Over and above it being wrong to start with increasing taxes, this action also has the added effect of shielding government from the need to take immediate action on reducing public spending. I suspect the Honourable Minister knows he will not be able to bring down government spending.
From an economic perspective, one would have expected him to leave more purchasing power in the hands of the consumer so as to create a demand pull for local production. Reducing purchasing power will lead to consumers looking for the cheapest sources for their needs. We all know those sources will not be Zimbabwean!
So then, we would argue that increasing the transaction tax was not a smart idea.</blockquote>

Mthuli Ncube Is Burdening Overtaxed Citizens Instead Of Cutting Down Wasteful Spending - Nkosana Moyo

Minister of Finance and Economic Development, Mthuli Ncube has reviewed the tax on money transfers which he increased from 5 cents per transaction to 2 percent per transaction on Monday. The minister said that the tax will be capped at a maximum of $10 000 per month. The minister also said that the tax will come into effect when the relevant regulations are gazetted. This marks an about turn from the minister’s position on Monday when he said that the tax was with immediate effect. We publish the Minister’s statement in full below:
<blockquote>At the occasion of the presentation of the 2018 Mid-Term Monetary Policy, I announced a review of the Intermediated Money Transfer Tax from the current 5 cents per transaction to 2 cents per every dollar transacted. Further details pertaining to the tax are as follows:
The 2 Cents per Dollar tax, will apply on transactions of $10 and above only. Transactions below $10 will be exempt from this tax. There is a cap of $10 000 on the amount of tax to be paid. This implies that transfers above $500,000 will attract a flat tax of $10,000.
In addition, the following transactions will be exempt from the proposed tax:-
<ul>
<li>Intra-company transfer of Funds including transfer from intermediary accounts;</li>
<li>Transfer of funds on purchase and sale of equities;</li>
<li>Transfer of funds on purchase and redemption of money market instruments;</li>
<li>Transfer of funds for payment of salaries;</li>
<li>Transfer of funds for payment of taxes;</li>
<li>Transfer of funds to intermediary accounts, for example, conveyancers;</li>
<li>Transfer of funds in respect of foreign currency related payments; and • Transfer of funds by Government.</li>
</ul>
This tax review comes into effect on the date of gazette of the relevant Regulations.</blockquote>
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Full Text: Finance Minister Revises Money Transfer Tax After Outcry, Sets $10 000 Cap And Exceptions

Minister of Finance and Economic Development, Mthuli Ncube has defended the new 2 percent tax on all money transfers saying that austerity measures need to be adopted in order to stop the bleeding in the economy. Ncube said that there could be no reforms without pain. Presenting the government’s latest economic blueprint, Transitional Stabilization Programme (TSP), on Friday the Minister argued that the two percent tax is in line with what is happening in other markets. However, he conceded that the new tax needs to be fine-tuned to ensure that it works as planned. He said that the tax was going to be capped and that exemptions will also be offered. Said the minister,
<blockquote>The 2% tax is necessary. We need to be pragmatic. We need to stop the bleeding. We need to take the pain…The economy is now more informal, previous tax regimes are no longer effective. I know this is a shock to people but we need austerity. Government will do its part…People don’t realize that they are already paying for a weak economy. This (2% tax) is one way we can fix our problems. The tax might be fine-tuned in the next budget.</blockquote>
Permanent Secretary in the Ministry of Finance and Economic Development, George Guvamatanga also said that part of the money collected from the tax will be used for social services. Said Guvamatanga,
<blockquote>Funds that are to be collected from the recently introduced 2cents per each electronic $1will be ring-fenced to prioritize social services such as health and education…Zimbabwe should brace for a little bit of pain as it addresses the challenges inherent in the economy</blockquote>
The tax has not been well received with critics arguing that the government is punishing the poor and taxing people for using electronic money yet there are cash shortages. Industry has also said that the tax will cut into its profits and may hamper the economy.
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Killer Tax Is Necessary Although It Will Be Fine-Tuned, No Reforms Without Pain - Finance Minister

Lawyers, Alex F &amp; Associates have written to the Ministry of Finance and Economic Development on behalf of businessman Arnold Mutsondi, demanding that the Ministry should reverse the increase in money transfer tax of 2 percent within two weeks or face a Constitutional Court challenge. The tax was introduced by Minister of Finance Mthuli Ncube when he presented the fiscal measures on Monday following the Monetary Policy Statement. Ncube reviewed the tax from 5 cents per transaction to 2 percent per transaction.
We publish the letter in full below
<blockquote>RE: UNCONSTITUTIONALITY OF THE OPERALISATION OF THE REVIEWS TAX-INTERMEDIATED MONEY TRANSFER TAX BY THE MINISTRY OF FINANCE
OUR CLIENT ARNOLD MUTSONDI
We refer to the above matter and address you at the instance of our client, Mr. Arnold Mutsondi.
Our client is a Zimbabwean businessman and taxpayer. He runs a number of companies which routinely contribute to the fiscus. Our client has advised us that your Ministry has recently reviewed the Intermediated Money Transfer Tax tax rate which has customarily been pegged at 5 cents per transaction. It is our understanding that the tax in question was introduced by your Ministry for the first time in 2003. The rate of tax has never been altered up to September 2018.
Our client further advised us that during your Ministry’s presentation of the 2018 – 2019 Fiscal Policy review on the 1st of October 2018, it purported to arbitrarily impose an exorbitant tax rate of 2 cents per dollar effective the 1st of October 2018. This sudden change and operationalisation of the reviewed Intermediated Money Transfer Tax is unlawful, arbitrary, unfair, unreasonable and unjustifiable in a democratic society based on openness, justice, human dignity, equality and freedom.
It is an undeniable fact that the purported review of the Intermediated Money Transfer Tax which resulted in an exorbitant, usurious and exponential rate of 2 cents per every dollar is unconstitutional in terms of section 71 (3) of the Constitution of the Republic of Zimbabwe which clearly prohibits the deprivation of property. The Constitution provides, inter alia in section 71 (2) that every person has a right to property which includes their money. It is our client’s fortified view that the move by your esteemed Ministry to arbitrarily impose an exponential tax on its transactions or those of fellow Zimbabweans cannot be accepted in a democratic society. Our client’s views are buttressed in the provisions of the Constitution. In particular, the Constitution outlaws the action by your Ministry in the following regards:
i. No reasonable notice was given by your Ministry before the operationalization of the usurious tax rate as required in terms of Section 71 (3) (c) (i). Whilst the levying of the tax is permissible in terms of section 71 (3) on basis of a law of general application, section 71 (3) (c) (i) require reasonable notice to have been given by the Ministry considering the far-reaching implications of the tax rate in question. The fact that the Ministry purported to operationalise the usurious tax effectively on the 1st of October 2018 renders the actions by your Ministry unlawful on the above basis.
ii. The purported tax rate of 2 cents for every dollar is ridiculous, akin to fraud and induces a sense of shock to our client and the general public of Zimbabwe. In actual fact, the tax rate is retrogressive in the sense that it is not a reasonable derogation from the fundamental right to property recognized in section 86 (2) of the Constitution because it is unjustifiable, extortious, unfair, unnecessary and unjustifiable in democratic society based on openness, justice, human dignity, equality and freedom.
iii. The reviewed tax rate is a not a product of wide consultations which unfortunately results in an unlawful deprivation of a fundamental right to property
Further to the above, it is common cause that currently there is no adequate cash resources in Zimbabwe. Mindful of this fact, it is clear that our client and Zimbabweans at large appear being punished for the government’s failure to provide cash as they have no choice but to fall prey to the to the usury of your new tax regime. The imposition of this tax is not reasonably justifiable in a democratic society and offends the provisions of the Constitution.
Based on the aforegoing, our client has instructed us to demand, as we hereby do that your Ministry reverses the tax rate within 14 days of, this letter failing which we have strict instructions to approach the Constitutional Court for reversal of this catastrophic tax regime in Zimbabwe.
We advise accordingly and trust it shall not be necessary to engage in litigation over this.
Yours faithfully 
ALEX F&amp; ASSOCIATES
cc. Commissioner, Zimbabwe Revenue Authority 
cc. Governor, Reserve Bank of Zimbabwe</blockquote>

Businessman Gives Govt Two-Weeks Ultimatum To Reverse Exorbitant Tax Rate Or Face ConCourt Challenge

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