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Freeman Razemba-Senior Reporter
The Shipping and Forwarding Agents’ Association of Zimbabwe (SFAAZ) has hailed the Second Republic move to remove VAT from Liquefied Petroleum Gas, (LPG) saying Government has continued to walk the talk on policy reforms.
Statutory Instrument 195 of 2024, which was gazetted on December 30, 2024, removes VAT on Liquefied Petroleum Gas, (LPG)
In an interview, SFAAZ CEO, Mr Washington Dube, hailed this move by the Government. He said the move is a shot in the arm for consumers who have been affected by loadshedding.
Mr Dube said that the removal of VAT on Liquefied Petroleum Gas, (LPG), should result Liquefied Petroleum Gas, (LPG) retailers reducing the price of the commodity.
He said that LPG is a viable substitute for cooking and other household uses. He thus said the anticipated decrease will make LPG more accessible to low income and rural households.
The Government also suspended duty on importation of semi-knocked down (SKD) single and double cab motor vehicle kits for five years through Statutory Instrument 194 of 2024, which was gazetted on December 30, 2024;
Mr Dube welcomed this move as it will spur economic growth through the revival of a vibrant local vehicle assembly economy in Zimbabwe and the subsequent creation of jobs.
He also highlighted that Finance and Economic Development Minister, Professor Mthuli Ncube in his 2025 Budget Speech, proposed to reduce customs duties for electric vehicles.
Mr Dube said that the Government is seeing through its proposals and has gazetted Statutory Instrument 196 of 2024 which reduced customs duty of electric vehicles and buses from the current 40 percent to 25 percent.
He said this move is a bold move by the Government to indicate strong commitment to reducing the nations carbon footprint
Mr Dube said that the level of openness and engagements by the Second Republic is a boon to business and will accelerate the realisation of the country’s vision of becoming an Upper Middle-Income Society by 2030.
Online Reporter