Mthuli Ncube defends 2 percent tax, says it’s keeping government afloat

BULAWAYO – Finance minister Mthuli Ncube has defended the 2 percent tax on electronic transactions (IMTT), describing it as one of the key revenue streams keeping the government afloat.

Ncube is under growing pressure to scrap the unpopular levy – including from within the ruling Zanu PF party, which resolved at its recent annual conference that the charge should be abolished.

Addressing MPs during a pre-budget seminar in Bulawayo on Wednesday, Ncube warned that removing the tax would blow a hole in the national purse that could only be filled by introducing new taxes or raising existing ones.

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