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THE government has granted listed beverages giant Delta Corporation Ltd exemption from paying duty on its planned importation of 535 coolers this year.
Delta Corporation is Zimbabwe’s biggest company, and one of the biggest taxpayers to the government. Customs Duty is levied on imported goods in terms of the Customs and Excise Act (Chapter 23:02).
The Ministry of Finance and Economic Development has made amendments to the Customs and Excise (Suspension) Regulations, 2003, by deletion of section 9N and replacement with the following: “Suspension of Duty on Carbon Dioxide Compliant and Hydrofluorocarbon-free Coolers imported by Approved importers.”
The government has allowed the beverages maker to import the following 535 coolers: EV24 SD R134A Single Door Cooler (x 210), KOCool-35 Solar Chest Cooler (x 150), ER130 Coke Cooler (x 35), FV 1200 D R134A Coke Double Door Cooler (x 90) and S12 D Coke Cooler (x 50).
Earlier this year, Delta announced a 13 percent decline in full-year profit due to a challenging operating environment. The group’s net income amounted to $81 million in the year through March 31, 2016, down from $93 million in the previous period. Earnings before interest, taxes, depreciation and amortisation fell 10 percent. Delta is about 23 percent-owned by London-based SABMiller Plc. – BH24
Online Reporter
derick.khumalo