High Court Judge Justice Zhou has on Wednesday set aside SI 205/2018 on the 2% transaction tax. The case was argued by MDC vice president Tendai Biti.
The punitive 2% tax on electronic transactions was made into law in October last year as a brainchild of Finance minister Mthuli Ncube.
The law was gazetted as part of Transitional Stabilisation (TSP) that will run until 2020 which is aimed at widening government’s revenue collection.
Zim Morning Post will unpack the implications of the High Court ruling Wednesday afternoon.