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Musokotwane extends subsidy on fuel till December

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Situmbeko Musokotwane

Minister of Finance and National Planning, Dr Situmbeko Musokotwane has extended some subsidy on petroleum products.

The indirect subsidy has been granted through the suspension of collection of Customs Duty from 1st October 2022 to 31st December 2022.

This was the only tax that has enjoyed extension.

This is contained in Statutory Instrument no.62 of 2022.

Earlier, the Minister reinstated collection of taxes of Excise Duty (4%) and Value Added Tax (16%).

The indirect subsidies to fuel comprised non-collection of Customs Duty (25%), VAT (16%) and Excise Duty (4%).

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