GOVERNMENT REDUCES DUTY TO CUSHION COMPANIES
By Staff Reporter
Zimbabwe has begun its implementation of duty relief measures on raw materials and machinery imports to cushion companies from high costs of production during the course of this year.
The rebate and suspension of duty facilities revealed in the 2022 national budget will benefit the mining, agriculture, manufacturing, tourism, transport, clothing and textiles and energy sectors, among others.
Association of Zimbabwe travel agencies past Chairperson Mr Ignatious Matungamire said the impact of a suspension of duty on motor vehicles imported by safari and tour operators will be effective this month.
Agricultural and rural development authority Chief Executive Officer Dr Tinotenda Mhiko noted that duty free interventions on the dairy sector will positively impact farming viability.
Treasury says it surrendered more than ZWL3 billion during the just ended year through suspending duty on selected imports and supporting firms in paying duty charges at reduced rates.