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Herald Reporter
Import duty and import VAT was suspended yesterday on 10 basic goods: maize meal, rice, milk, flour, salt, cooking oil, petroleum jelly, toothpaste, bath soap and washing powder.
The suspension of the import duty and import VAT shall be valid for six months from yesterday and is likely to force Zimbabwean producers to keep their prices within the limits of foreign competitors, especially as retailers and wholesalers can now keep all the foreign currency they collect from customers.
In a letter to Zimra Commissioner General Ms Regina Chinamasa, Permanent Secretary for Finance and Economic Development Mr George Guvamatanga also requested Zimra to “urgently draft the necessary legal instrument and implement the duty suspension with effect from 12 May 2023”.
“Furthermore, the Ministry of Industry and Commerce is expected to complement the measure through the inclusion of the above goods on the Open General Import Licence,” said Mr Guvamatanga.
The move is in line with the measures announced by the Government on Thursday.
Online Reporter