Sundaymail Editor
Online Reporter
THE Ministry of Finance and Economic Development is pushing for cigarettes that were confiscated enroute to illegal markets to be destroyed, instead of being auctioned.
For years, cigarette smuggling done by well-organised syndicates has been a challenge for authorities and prejudiced the country of potential earnings in taxes.
In the Second Reading of the Finance Bill (2022) in the House of Assembly on Tuesday, Finance and Economic Development Minister Professor Mthuli Ncube, said they are seeking more deterrent measures to choke the illicit cigarette market.
“The Bill, through Clause 29, seeks to amend the section of the Customs and Excise Act providing for the procedure on seizure and forfeiture, which will require that contraband cigarettes must be destroyed instead of auctioned.
“We need to curb illicit cigarette trade. We think this is the way to do it,” said Minister Ncube.
According to the Zimbabwe National Chamber of Commerce, the country loses US$10 million per month through illegal cigarette exports.
Online Reporter