By The government has taken a significant step towards promoting digital payments by making electronic money compulsory for all businesses.
This move aims to increase financial inclusion, reduce transaction costs, and enhance security through encryption and secure authentication protocols.
Speaking during a post-cabinet press briefing, Minister of Finance and Economic Development, and Investment Promotion, Honourable Professor Mthuli Ncube, said the government plans to introduce a tax payment system that ensures every eligible taxpayer pays tax.
Additionally, a domestic inter-agency team will be established to ensure compliance with tax laws in the informal sector.
This development came after the cabinet observed several factors negatively impacting the economy, prompting the introduction of both short-term and long-term measures to address these challenges.
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