Saturday, 1 December 2018

IMPORT DUTY FOR BUSES REDUCED


Government has extended the ring-fenced suspension of duty on the outstanding quota of luxury buses by a year after the operators failed to utilise the facility due foreign currency challenges.

The Government ring-fenced importation of 25 luxury buses at a reduced rate of five percent for a period of 12 months beginning in January 2018 in an effort to improve the condition of cross border luxury buses .

Finance and Economic Development Minister Professor Mthuli Ncube said in the recent Budget Statement that bus operators have not been able to utilise the facility due to foreign currency challenges.

“I, therefore, propose to extend the ring-fenced suspension of duty on the outstanding quota of luxury buses by a further one year,” he said.

“Furthermore, the Budget proposes to ring-fence importation of 100 public services buses of sitting capacity of at least 60 passengers at a reduced customs duty rate of five percent, in order to ease the transport challenges, this facility will be availed for 12 months beginning 1 January 2019.”

Minister Ncube said tour operator services were an important element of the tourism industry which guaranteed that tourists were transported safely and comfortably.

“In order to assist tour operators capitalise their fleets, the Budget proposes to extend suspension of duty on 75 new buses of a carrying capacity of eight to 58 passengers, including the driver,” he said. Herald

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