News / Local
Zimra enforces new import tariffs
04 Sep 2015 at 07:54hrs | Views
ZIMRA has begun enforcing the duty increases and reductions for several goods and items in line with government's proposal and subsequent statutory instruments on customs and excise duty gazetted on the 1st of September.
Tax increases for goods such as second hand motor vehicles and cooking oil, which were proposed in the Mid-Term Fiscal Policy review have been effected.
Duty has also been suspended on fertiliser imported by approved traders.
Under statutory instrument 88, blankets, stoves, refrigerators, cooking oil, laundry bars, soap, flour, maize meal, yoghurt sugar and meat, among other products, were removed from the travellers rebate.
In addition, a surtax tariff is being levied on cooking oil.
Second hand light passenger vehicles older than five years from the date of manufacture now attract a 35 percent surtax charge.
Duty was suspended for fertiliser importers approved by the Ministry of Agriculture under statutory instrument number 90 of 2015.
Confederation of Zimbabwe Retailers Association President, Mr Denford Mutashu said the duty increase is a confidence boosting measure for local industry.
Government believes measures to protect local firms should boost revenues and create new jobs in the economy as traders have been unnecessarily importing several goods which are manufactured locally.
Tax increases for goods such as second hand motor vehicles and cooking oil, which were proposed in the Mid-Term Fiscal Policy review have been effected.
Duty has also been suspended on fertiliser imported by approved traders.
Under statutory instrument 88, blankets, stoves, refrigerators, cooking oil, laundry bars, soap, flour, maize meal, yoghurt sugar and meat, among other products, were removed from the travellers rebate.
In addition, a surtax tariff is being levied on cooking oil.
Second hand light passenger vehicles older than five years from the date of manufacture now attract a 35 percent surtax charge.
Duty was suspended for fertiliser importers approved by the Ministry of Agriculture under statutory instrument number 90 of 2015.
Confederation of Zimbabwe Retailers Association President, Mr Denford Mutashu said the duty increase is a confidence boosting measure for local industry.
Government believes measures to protect local firms should boost revenues and create new jobs in the economy as traders have been unnecessarily importing several goods which are manufactured locally.
Source - zbc
