The new tax measures for Excise Duty, administered under the Customs and Excise Act have been operational from exactly the midnight of 9 September, as presented in Parliament by the Minister of Finance, Economic Planning and Development, Joseph Mwanamveka.
“Under the Tax Policy and Administration Measures that I will be announcing today, the Customs and Excise Tax Measures will be effective from mid night today,” said the Finance Minister.
The new measures for Excise Duty are, reduction of excise duty rate on malt beer and liquor from 90% to 65%. There is also an increase in excise duty rate on spirits from 90% and 95% to 110%. An introduction of a 10% excise duty rate on some plastic pipes and sacks has been made, excluding hosepipes and medical related pipes.
The Minister also announced that in order to promote use of clean energy and minimize deforestation, Customs Duty and Excise Tax on gas cylinders have been removed.
“Government laments the wanton cutting down of trees for fuel wood as this is negatively contributing towards adverse impact of climate change,” he said in explaining why Government wants to promote the use of gas.Follow and Subscribe Nyasa TV :