Even though EcoCash Agent lines were shut down two months ago, ZIMRA still has scores to settle with them. In a message, EcoCash said the country’s revenue collector, ZIMRA, will collect Intermediate Tax (2% tax) from the owners of the now defunct EcoCash Agent lines.
The tax due is from 1 October 2018 to 20 August 2020 and the tax will be charged on both Cash-in and Cash-out transactions conducted in that period.
Dear Agent. ZIMRA’s interpretation of the law is that A2A Cash In/Out transactions are subject to 2% IMTT from 1 Oct 2018. This tax will now be deducted.
Message from EcoCash
The notice from EcoCash stops short of clearly saying where they will deduct the the tax from. But given that moneychanger’s funds were abruptly locked in their accounts by the RBZ, ZIMRA will unilaterally deduct money from the money locked in those closed accounts.