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Minister of Finance univeils New Customs & Excise Measures

Minister of Finance univeils New Customs & Excise Measures

The Minister of Finance, Economic Planning and Development, Honourable Joseph Mwanamvekha, MP, in the budget presentation in Parliament for the 2020/2021 on Friday, 12th June 2020, announced new measures relating to Customs and Excise.

These changes became effective on the mid night of the same day are aimed at enhancing revenue whilst ensuring that a conductive environment is created for business to recover from the Covid-19 pandemic and provide some cushion to individuals.

The Minister said that Government introduced a Customs Procedure Code (CPC) which provides relief to churches and similar religious institutions through their mother bodies in the country to import one bus of seating capacity 26 persons or more including the driver duty free in every five years.He said this measure is intended to ease mobility and transport challenges that are faced by these important institutions.

In order to promote industry, secure employment and support the entire value chain which involves local farmers in maize, millet and sorghum production, the Government has reduced excise duty on all opaque beer from 40% to 30%.

In order to improve access to information and promote establishment of television and radio stations especially in our local communities, the Minister said Government has introduced a Customs Procedure Code to allow duty free importation of television and radio communication equipment.

In short, there are so many changes that the Minister announced during the budget presentation and you may wish to read and understand Custom measures in public notice below.

BY STAFF REPORTER

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