Minister of Finance, Professor Mthuli Ncube, pledged to consider proposals to reduce the Intermediated Money Transfer Tax (IMTT) and sugar tax, while balancing the need to protect Government revenue.
Responding to issues raised during the plenary session, yesterday, on the 2027 Pre-Budget Seminar, Professor Ncube welcomed submissions from stakeholders seeking relief from the two taxes, saying their implications would be carefully assessed before recommendations were presented to Parliament.
“Government welcomes proposals to reduce the Intermediated Money Transfer Tax and the sugar tax. However, we must carefully assess the revenue implications of any proposed changes before submitting recommendations to Parliament,” he said.
Professor Ncube also underscored the importance of improving the ease of doing business, highlighting the need for timely issuance of statutory instruments to give effect to policy decisions.
“We recognise that policy measures must be supported by timely statutory instruments to ensure that they are implemented effectively. Improving the ease of doing business requires not only sound policies but also efficient implementation.
Government remained focused on sustaining economic growth, strengthening revenue mobilisation and maintaining macroeconomic stability, which are central to the country’s broader economic development agenda,” the Minister added.
He noted that the economy had continued to demonstrate positive performance, supported by efforts to improve domestic revenue collection and preserve stability in the macroeconomic environment.
“Strengthening revenue mobilisation and maintaining macroeconomic stability remain important priorities. We must continue to support economic activity while ensuring that Government has the resources required to meet its obligations,” Professor Ncube said.
The 2027 Pre-Budget Seminar provides a platform for stakeholders to present proposals and engage Government on fiscal priorities ahead of the formulation of next year’s National Budget.
The discussions are expected to inform policy considerations on taxation, revenue generation, the business environment and measures to sustain economic growth.
