There is confusion in the market over the two percent tax
introduced by Finance minister Mthuli Ncube.
Part of the confusion emanated from an EcoCash message sent
to customers stating that whilst their mobile tariffs remain unchanged, all
applicable EcoCash transactions now attract two cents government tax per every
dollar effective on Friday evening.
It is also reported that some fuel attendants are now
taking advantage of the confusion emanating from the two percent tax and are
defrauding motorists.
Some attendants are reportedly pumping fuel into vehicles
that is 98 percent of the purchase price, and claiming the remaining 2 percent
was going to government. Yet the tax does not apply to petroleum products.
This confusion emanated after a general notice published in
the government gazette under statutory Instrument 205 of 2018 that gave legal
effect to the new tax which is part of Ncube’s fiscal measures aimed at
reversing imbalances in the country’s economy.
Financial institutions, the Zimbabwe Revenue Authority and
the telecommunication companies have been directed to extend the collection on
all electronic transactions.
The notice also indicated that the two cents per dollar tax
will not apply on transactions which are below $10.
According to the notice, the tax will not apply to a range
of other transactions that include transfer of money for procurement of fuel by
a petroleum company licensed in terms of the petroleum act.
Econet spokesperson Fungayi Mandiveyi said customers should
know there is no two cents government tax charge for EcoCash transactions that
are below $10.
“For those between a dollar to $10, there is only the
existing EcoCash transition fee.
“For transactions above $10, the two cents government tax
applies.
“The tax is two percent of the value transacted, and it is
over and above the existing normal EcoCash transaction fees,” he said.
In an interview with the Daily News, Ncube said the tax is
exempt on transactions below $10.
“Those charging customers the two cents per dollar
transaction on transactions below $10 will be dealt with accordingly,” he said.
President of the Motor Industry Association of Zimbabwe,
Simplisio Shamba said it is wrong for any fuel retailer to charge the two
percent tax because fuel prices are
regulated.
“Anyone who adds the two percent charge will be arrested by
the Zimbabwe Energy Regulatory Authority,” he said. Daily News
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