Revenue Enhancement Measures

Customs Duty

▪ Introduction of 5% levy on the value of imported dairy products.

▪ 20% of the net premiums collected on Motor Vehicle Insurance for foreign registered vehicles to be used for assisting road accident victims.

▪ Pre-owned motor vehicles no longer eligible to be placed in bonded warehouses.

▪ Pre-owned motor vehicles currently held in bonded warehouses to be duty paid by the 31st of May 2022.

Excise Duty

▪ Estimated assessments may be raised for non-declaration or false declaration of excise duty or surtax on manufacturing of commodities.

▪ Increase excise duty on cigarettes from 20% + US$5/1000 cigarettes to 25% + US$5/1000 cigarettes.

▪ Introduction of flat rate of excise duty on energy drinks at a rate of US$0.05/litre or the local currency equivalent.

▪ Excise duty on excisable products such as telephone, airtime, data and preowned motor vehicles to be levied in the currency of trade. 

Capital Gains

▪ Clarification of US$ and ZWL$ CGT calculations for specified assets acquired pre-February 2019; CGT being 5% of gross capital amount.

▪ Restrictions on the deductions for calculating capital gains.

▪ Changes are w.e.f. 22 February 2019

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