The government through the Ministry of Finance and Investment Promotion has gazetted Intermediated Money Transfer Tax (IMTT) rates for Zimbabwe Gold (ZiG) and USD.
Effective immediately, IMTT tax on electronic transfers will be 2 percent for both USD & ZiG transactions.
Previously, rates were 2 percent for local currency and 1 percent for USD transfers.
And both are now at 2 percent removing the distortions, different rates which were prevailing on pricing when applying interbank rates.
IMTT is payable by financial institutions on transactions mediating the transfer of money, with certain exceptions.
Zwnews
