HomeBusiness

Mthuli Suspends Duty On Commercial Tyres

4 years agoThu, 01 Aug 2019 13:52:30 GMT
Share on FacebookShare on TwitterShare on LinkedIn
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.

 

Tags

0 Comments

Leave a Comment


Generate a Whatsapp Message

Buy Phones on Credit.

More Deals
Feedback