2c In­ter­me­di­ated Money Trans­fer Tax gazetted

Sunday News (Zimbabwe) - - Front Page -

THE In­ter­me­di­ated Money Trans­fer Tax (now com­monly known as the 2 cents tax) an­nounced by Govern­ment last week, came into ef­fect yes­ter­day. This was an­nounced through Statu­tory In­stru­ment 205 of 2018 pub­lished in the Govern­ment Gazette on Fri­day. The new tax has been in­tro­duced by way of amend­ments to sec­tion 22G of the Fi­nance Act (Chap­ter 23:04) and the Thir­teenth Sched­ule of the In­come Tax Act (Chap­ter 23:06).


The All Share in­dex came off by 8.02 points (3,85 per­cent) to close the week at 200.29 points. Old Mu­tual led the shak­ers with a $2,5000 loss to trade at $10,2000, PPC was down $0,4406 to $1,7894 and Innscor traded $0,2865 lower at $2,1460. Delta also dropped $0,1234 to end at $4,2401 and OK Zimbabwe lost $0,0890 to $0,3565.

Losses were par­tially off­set by gains in SeedCo In­ter­na­tional which added $0,1450 to $0,8750, Zim­plow re­cov­ered $0,0445 to set­tle at $0,2670 and Nam­pak was up by $0,0360 to $0,2160. First Cap­i­tal Bank also in­creased by $0,0124 to $0,0750 and Unifreight was $0,0060 stronger at $0,0420.

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