ZANU PF Calls For Removal Of Tax On Electronic Transactions

Also Read Below: *Delta Pays Up To US$240 Million In Taxes Annually*

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ZANU PF has called for measures to strengthen the ZiG currency, scrap the Intermediated Money Transfer Tax (IMTT) on electronic transactions, and introduce steps to make the currency more stable and durable.

The IMTT is a government levy charged at 2% on electronic financial transactions, including mobile money transfers, bank transfers, point-of-sale payments, and RTGS transactions, though some transactions are capped. It applies to platforms like EcoCash, OneMoney, bank-to-bank transfers, swipes, and ZIPIT payments.

Speaking in Mutare on Sunday, ZANU PF Secretary for Legal Affairs Cde Ziyambi Ziyambi presented the party’s resolutions from the 22nd Annual National People’s Conference, saying the government had been instructed to strengthen the ZiG, remove IMTT transaction fees, and reduce other bank charges. He said:

“The party directs Government to strengthen and intensify robust support for the Zimbabwe Gold (ZiG) currency to ensure that ZiG retains the status of sole legal tender for all domestic transactions, including the purchase of fuel.

“Promote formalisation and banking through the removal of the IMTT transaction charges and reduction of other bank charges, making ZIG more accessible, affordable and attractive for all domestic financial transactions, thereby promoting financial inclusion and strengthening the nation’s monetary stability.

“Improve the durability of the ZiG notes with enhanced security features and increase its circulation in all denominations to safeguard market stability and maintain public confidence in the national currency.”

*Delta Pays Up To US$240 Million In Taxes Annually*

Delta Corporation Limited says it contributes between US$216 million and US$240 million in taxes to the government each year.

Despite an ongoing dispute with the Zimbabwe Revenue Authority (ZIMRA) over how taxes are calculated, the company has continued to meet its obligations.

Speaking at the groundbreaking of Delta’s new brewhouse at the Belmont Lagers Manufacturing Plant in Bulawayo last week, chairman Todd Moyo said the company remains one of the biggest contributors to the national treasury. Said Moyo:

“Our beer operations provide much-needed revenue to the fiscus through excise duty and other taxes.

“On average, Delta pays an equivalent of US$18 million to US$20 million monthly in taxes such as excise duty, sugar tax, VAT, and PAYE, in addition to company taxes and import duties.”

Moyo pointed out Bulawayo’s industrial history, saying that even though a lot of companies have moved up north to Harare, Delta has stayed firmly based in the city. He said:

“The brewery packaging project will cost around US$17 million and is part of the upgrade and expansion of Belmont Brewery to include a second packaging line, fermentation vessels, and ancillary equipment at a total cost of US$35 million.

“We are playing our part in advancing inclusive growth, industrial renewal, and sustainable development — rebuilding confidence in Bulawayo’s future as a thriving industrial city once again.

“The overall capacity of the brewery will increase to around 1.5 million hectolitres per annum.

“By investing here again, we reaffirm our faith in this great city — its people, its talent, its industrious spirit, and its future as Zimbabwe’s industrial heartbeat.

“This new brewhouse represents our company’s determination to reinvest, reindustrialise, and reenergize Bulawayo.

“The upgrade of the Belmont plant is key to improving the supply of our brands and assuring our consumers of the high quality of beverages they expect from Delta.”

He said the project isn’t just about making beer, but also about creating jobs during construction and giving local contractors, engineers, artisans, and suppliers, especially from Bulawayo and nearby areas, a chance to get involved.

Moyo added that Delta has been putting around US$40 million to US$50 million into investments each year, including returnable glass bottles and crates.

More: Business Times