Mthuli Suspends Duty On Commercial Tyres

In his Midterm Budget Review statement, Finance and Economic Development Minister said that import duty on some selected goods has been suspended. He said:

  • On Suspension of Duty on Commercial Tyres, there is a proposal to ring-fence importation of 100 000 commercial tyres at a lower duty rate of 15% for a period of twelve months.
  • In response to inflationary pressure and currency adjustment, we propose the adoption of an optimal policy mix between specific and ad valorem excise taxes as follows: -On Fuel. Ad Valorem excise duty of 45% and 40% per litre of petrol and diesel, respectively.
  • Alcoholic Bev. Optimal mix of Specific and Ad Valorem excise duty as follows: Spirits-40% of ex-factory cost plus ZWL$20/LAA; Fortified Wines-ZWL$4/L; Unfortified Wines-15% of ex-factory cost plus ZWL$3.5/L; Other Fermented Beverages- ZWL$3/L; & Opaque Beer Powder-ZWL$0.50/kg.
  • In order to promote investment in solar energy, thereby reducing power demand on the already constrained national grid, we propose to remove duty on lithium-ion solar batteries.
  • Suspension of Duty on Motor Vehicles Imported for use by Physically Handicapped Persons.

 

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