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2 Percent Tax Boosts Zim Education Sector: Prof Mthuli Ncube

Government has announced that the controversial 2 percent transaction tax initiated in October last year has helped towards the recruitment of the 3 000 additional teachers and 350 university personnel.

According to the Minister of Finance and Economic Development Minister, Professor Mthuli Ncube, the tax revenue is also covering the $310 million cost for devolution which was announced in the 2019 Budget.

“The 2 % transaction tax initiated in October 2018 has started bearing positive results on the economy. 

“So far, the tax revenue has helped Zimbabwe on  recruitment of 3 000 additional teachers; recruitment of 350 university personnel and covering the $310 million announced in the 2019 Budget cost for devolution,”he said.

In December Government collected $572,40 million through the 2 percent tax, exceeding the monthly target by $129,1 million.

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