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Mthuli Proposes Temporary Duty On Fuel In Transit

8 months agoSat, 27 Jul 2024 05:09:23 GMT
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Mthuli Proposes Temporary Duty On Fuel In Transit

Finance, Economic Development and Investment Promotion Minister Mthuli Ncube has proposed a temporary import duty on fuel in transit to other countries, in a move aimed at curbing rampant cases of transit fraud, reported ZimLive.

In his Mid-Term Budget Review Statement presented to parliament on Thursday, Minister Ncube acknowledged that the electronic cargo tracking system (ECTS) being used by the Zimbabwe Revenue Authority (ZIMRA) has failed to effectively stop transit fraud.

The government introduced the ECTS in 2017, which uses electronic seals and transmitters to monitor cargo, particularly fuel imports. This was a response to increasing incidents of transit fraud, where goods imported under the Removal in Transit (RIT) scheme were being offloaded on the local market without paying the required duty.

However, despite the implementation of the ECTS, Minister Ncube said that rampant cases of transit fraud continue unabated. He said:

I, therefore, propose to secure duty and levies on fuel imported under Removal in Transit Facility, by imposing payment of duty at the Port of Entry.

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Such duty and levies shall be recovered on acquittal at the Port of Exit.

This measure, which takes effect from 1st August 2024, will not apply to fuel uplifted from National Oil Infrastructure Company, Msasa Depot.

The Zimbabwe Revenue Authority is directed to manage the duty refund process efficiently through dedicated bank accounts.

Ncube also proposed measures to deal with under-declared fuel imports. He said:

Cognisant of the opportunity by operators to under-declare fuel imports, as well as abuse of the Removal in Transit Facility, I propose to introduce mandatory Fiscalisation of domestic fuel sales, with effect from 1st November 2024.

More: Pindula News

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20 Comments

InnerPeace😊 · 8 months ago
Yoo
theLastAntKing · 8 months ago
Vakuda kumbotenderedza mari. But still this will make Zimbabwean route unpopular. Nzira dzemedu dzoti kushata plus ka duty aka, ndaona tanyenyeredzwa
taxes · 8 months ago
chenjerai kupiwa zig masvika kuchirundu zvichunzi hapana mari they are taking thieving to another level
Povo... · 8 months ago
why chibaba . this move does not increase the price of fuel . zvirikunzi. fuel iya inenge ichipfuurira kuenda kunana Zambia ,Congo painopinda baborder ezvino yakumbobhadhara duty , vozonodzorerwa Mari yavo pavanono buda kuChirundu border . Kare vaizonobhadhara duty ikoko vakubuda. izvi zvaitirwa kuti vefuel vamwe vaipinda nayo seiri kuenda kumberi kune imwe nyika yorega kubhadhara duty but vobva vaoffloada muno. voitengesera muno. isina duty rayabhadhara ...
Chibaba · 8 months ago
Dai kuri kuKenya, povo yatopinda muma streets ichiratidzira zvino in Zimbabwe we are cowards.
👀👀 · 8 months ago
yochizokwira zvino fuel iya,& haisi fuel yega,mota chaidzo machipiro adzakaita mujoni umuka,ukafunga mari yaunozorohwa ne Zimra unosiyana nazvo,
. · 8 months ago
chii chisati chaane tax muno
iona · 8 months ago
ko sugar tax,how many cancer machines has it brought?
Corruptmore Looto · 8 months ago
Obvious Hapana zvee
🏋️🕺⛹️ · 8 months ago
good question 🤔🤔🤔🤔
Voltaire · 8 months ago
The reason why there is a rise in transit fraud is that your fuel duty is too high,,,ma fuel dealers akasatodaro haawani profit
**** mr finance · 8 months ago
Burry yourself
Dofo · 8 months ago
To hell with your team standing forcifully to destroy us one day is your day man. WE DO NOT WANT YOU ALL, YOU CORRUPT TEAM GOVERNMENT OF SELF PROCLAMATION. YOU WERE BORN FAILURES AND DIE FAILING.
U · 8 months ago
He has openly admitted that Zimbabwe government has failed yes in all aspects, since economy is driven financially. He being the stealing minister he has no way to hide his **** ideas. Only to utter nonsense to majority with no shame at all
Dofo · 8 months ago
Chii chinonzi mtuli I mhandu ye nyika ino
Mhat · 8 months ago
Hun****
Obert Karombe · 8 months ago
zvozodii payee !!!
Officer in charge · 8 months ago
So in other words you're proving to us that you are a failure right

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