DUTY on imported cars will not be affected by the recent
devaluing and renaming of the surrogate currency, because all imports are
cleared in hard currency, the Zimbabwe Revenue Authority (Zimra) has said.
In a statement released by the revenue collecting
authority, duty levied on imported cars will not be converted to the real time
gross settlement dollar (ZWR).
“For designated goods, which require duty to be paid in
foreign currency, as provided for in Statutory Instrument 252A of 2018, the
duty calculation remains in foreign currency and, as such, the duty payable
will be unchanged,” the statement read.
Zimra continues to demand foreign currency despite
Statutory Instrument 32 of 2019, which makes the ZWR legal tender for all
transactions in the country.
“That such currency shall be legal tender within Zimbabwe
from the effective date … that for all accounting purposes, all assets and
liabilities that were, immediately before the effective value date, valued and
expressed in United States dollars shall on and after the effective date be
deemed to be values in (ZWR),” part of the SI read.
Zimra also noted that duty for fuel and cement will not be
affected by the recent devaluation of the ZWR and duty will continue being paid
at 1:1.
“For duty computations using specific rates of duty, such
rates are denominated in the newly introduced (ZWR). Therefore, such duty
calculation transactions will not be affected by the recent legislative
changes. Examples of products on which specific duty rates are applied are
petrol, diesel, paraffin, wine and cement,” the statement read. Newsday
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