Paul Nyakazeya, Group Digital Editor 
10
COMPANIES are amplifying their voices against the two percent Intermediated Money Transfer Tax (IMTT), which they want revised to cushion businesses from the debilitating effects of coronavirus.
At the same time, experts have warned that if the IMTT — which they have said amounts to “double taxation”, was to continue — it would hit business, which is yet to fully recover from the effects of disruptions caused by Covid-19, hard.
Advertisements
The much-debated levy was introduced in October 2018 when the government launched its austerity programme — the Transitional Stabilisation Programme (TSP) — which at first triggered a bout of price increases and invited backlash from the consumers.
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.
Login if you have purchased
