On 28 May 2023, Zimbabwe's Ministry of Finance and Economic Development, Mthuli Ncube, issued a Statement on Measures to Stabilize the Economy (third-party link), including measures to address inflation and support the local currency. This includes, among other things, the introduction of a 1% tax on all foreign payments with effect from 1 June 2023.
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STATEMENT ON POLICY MEASURES TO STABILISE THE ECONOMY
Introduction
1. Under the National Development Strategy 1, Government has made …