Storm over new tax regime

A HARARE businessman yesterday gave government 14 days to reverse the new measures introduced by the central bank to tax 2% of all electronic transfers, failure of which he will approach the Constitutional Court to seek recourse.

The developments come as the Zimbabwe Congress of Trade Unions (ZCTU) warned that workers would tomorrow start demonstrations against the new measures, which they say will further erode their incomes and savings.

Through his lawyers, Alex F & Associates, businessman Arnold Mutsondi, who reportedly operates several companies, said the purported review of the intermediated money transfer tax, which resulted in an “exorbitant, usurious and exponential” rate of two cents per very dollar, was unconstitutional in terms of section 71(3) of the Constitution.

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