Finance and Economic Development Minister Professor Mthuli Ncube has invoked the Customs and Excise Act and imposed duty in foreign currency on a number of goods in line with the 2019 National Budget Statement he presented last week.
Affected goods include vehicles, meat, horticultural products, cosmetics and selected fruits. The announcement was made in a Government Gazette published last Friday in terms of Section 115 (3) of the Customs and Excise Act (Chapter 23:02) and would be known as (Designation of Foreign Currency Dutiable Goods) Notice 2018. The regulations came into effect on November 23. Clause 3 (1) of the regulations reads as follows:
Subject to Section 3, the Minister of Finance and Economic Development hereby designates goods whose tariff codes and description are listed in the Schedule below for the purpose of Section 115 (3) of the Act.
(2) Every person who imports any goods designated in terms of this notice shall pay duty in foreign currency.
(3) Goods purchased on or before 22 November 2018 and consigned on or before 3rd January 2019, shall be exempted from the operation of this notice provided an approval for the exemption is obtained from the Ministry of Finance and Economic Development within 40 days of date of importation of the goods.
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