Fuel to cost more
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By Amb. Emmanuel Mwamba
Government has announced that it will not renew the Statutory Instrument that exempted Oil Marketing Companies (OMCs) from paying the Customs Duty of 25%.
This according to the communication issued to Oil Marketing Companies by the Permanent Secretary in the Ministry of Energy, Himba Cheelo.
This is after 16% VAT and Excise Duty collection of these taxes were re-introduced and re-imposed on fuel imports in September 2022 but Import/Customs Duty remained zero rated.
Beginning 1st January 2023, fuel imports will be subjected to all taxes( Customs Duty ( 25%), Value Added Tax (16%) and Exise Duty).
The price of fuel will inevitably go up again.
Some of the conditions of the IMF Staff-Level Agreement that Zambia signed with the IMF was that Government must shore up domestic revenue by abolishing direct and indirect subsidies on fuel, electricity and the Agriculture sector.
Fuel to cost more
By Amb. Emmanuel Mwamba
Government has announced that it will not renew the Statutory Instrument that exempted Oil Marketing Companies (OMCs) from paying the Customs Duty of 25%.
This according to the communication issued to Oil Marketing Companies by the Permanent Secretary in the Ministry of Energy, Himba Cheelo.
This is after 16% VAT and Excise Duty collection of these taxes were re-introduced and re-imposed on fuel imports in September 2022 but Import/Customs Duty remained zero rated.
Beginning 1st January 2023, fuel imports will be subjected to all taxes( Customs Duty ( 25%), Value Added Tax (16%) and Exise Duty).
The price of fuel will inevitably go up again.
Some of the conditions of the IMF Staff-Level Agreement that Zambia signed with the IMF was that Government must shore up domestic revenue by abolishing direct and indirect subsidies on fuel, electricity and the Agriculture sector.
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