Zim govt drops USD tax by 75% in over a year: Were domestic remittance volumes declining?

In an amendment made by the Zimbabwean Ministry of Finance, the Intermediary Money Transfer Tax (IMTT) on USD transactions has been dropped to 1% from 2% (the tax was instituted at 4%).“With effect from the 1st June, 2023, section 22G (“Intermediated Money Transfer Tax”) of the Finance Act [Chapter 23:04] […]