Govt Reverses Suspension Of Duty As Schweppes Prices Products "Exclusively In Foreign Currency"

The Ministry of Finance and Economic Development has reversed its decision to suspend the duty on imported oranges and grapefruits. In a letter seen by Pindula News, Finance Secretary, George Guvamatanga told Beitbridge Juicing (Pvt) Limited that all consignments that are going to be imported will, with immediate effect, be liable to duty at prescribed rates. Reads the letter:

Mr. C. Msipa Managing Director Beitbridge Juicing (Pvt) Limited

RE: SUSPENSION OF DUTY ON IMPORTED ORANGE AND GRAPEFRUITS

Reference is made to the above-mentioned subject.

As you would be aware, Treasury, on 1 July 2022, provided a once-off suspension of duty facility for your company to import 10 000 MT of oranges and 5 000 MT of grapefruits. This measure was expected to augment local supplies, thereby minimising supply disruptions, as well as guaranteeing affordable prices to the general public.

Treasury, however, notes that the pricing of your products is now exclusively in foreign currency, notwithstanding Government’s initiatives to promote the use of local currency. You will be aware that beneficiaries of tax incentives are expected to complement Government’s interventions with responsible pricing models with a view to ensuring affordability of goods, which is key in achieving Government’s developmental objectives.

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In view of the above, I wish to advise that, pending conclusion of investigations on your pricing model, the Suspension of Duty Facility has been revoked.

In this regard, all new imported consignments will, with immediate effect, be liable to duty at prescribed rates.

Pindula News