Govt to overhaul tariff regime

Govt to overhaul tariff regime
Published: 18 November 2013
Government is committed to reviving the local industry by embarking on a complete overhaul of the current tariff regime which has made it difficult for local manufacturers to produce competitive products.

In January last year, the Zimbabwe Revenue Authority announced that a 25 percent surtax would be charged on a wide range of imported items.

The list of items included a variety of fresh vegetables, meat and dairy products, as well as goods like flour, pasta, bread and cakes.

Alcohol and cigarettes were also not spared the surtax, along with items like cosmetics, footwear, candles and soap.

The new regime would put more stringent measures on the importation of goods that are locally available.

Industry and Commerce Minister Mike Bimha said the process of overhauling the tariff system would involve consultations with the finance ministry since the issue would have implications on revenue.

"Government will leave no stone unturned as it seeks to review the entire tariff regime in order to lower production costs for local producers. This exercise should be done in totality, it will not focus on particular products or sectors but will look at industry as a whole.

"We need to look at what products we can produce in sufficient quantities, with high quality and competitive prices and then see how we can apply duty on such products," he said.
- herald
Tags: Tax,


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