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.
Fresh news coming out from High Court is that Justice Zhou has set aside the Statutory Instrument(SI), SI 205/2018 which was used to introduce the 2% tax. The case was argued by prominent lawyer and Former Finance Mnister, Tendai Biti. We are not yet sure if the ruling is for the case we wrote about last year.
Breaking News: High Court Judge Justice Zhou has set aside SI 205/2018 on the 2% transaction tax. The case was argued by @BitiTendai. More details on implications of judgement to follow.
The SI was introduced back in October last year to widen the tax base and it has since raised millions of dollars for the government that are being used to rehabilitate the water infrastructure among other things. But today that SI unit has been set aside. We don’t know yet whether the ruling immediately puts a stop to the charging of the 2% tax or not. It is a developing story and more information will follow. Online news