ZIMRA Notice to Business Players re Excise Duty Refund on Fuel Purchases - 30 January 2019

Veritas is reproducing this notice because, although it was published at the end of January, the notice appears to be relevant to an understanding the provisions of SI 72/2019, Customs and Excise (Fuel Supplied to Approved Beneficiaries) (Refund) Regulations, 2019, gazetted on 22nd February.  

 

EXCISE DUTY REFUND FRAMEWORK FOLLOWING THE FUEL PRICE INCREASE UNDER STATUTORY INSTRUMENT 9 OF 2019

Following the press statement by His Excellency the President of Zimbabwe on 12 January 2019 on fuel price adjustments, the Government put in place a fuel duty refund facility to provide relief to identified productive sectors. The facility is meant to curtail possible price increases due to increases in retail pump prices of fuel.

The purpose of this notice is to guide business and their Business Associations on the requirements for successful registration for those who chose to benefit from the relief provided by the Excise Duty Refund facility.

 The Excise Duty Refund facility is accessible to registered beneficiaries who meet the following criteria as prescribed by the Minister of Finance and Economic Development.

 The prices of goods and services by beneficiaries are not expected to increase relative to the latest change in the price of fuel.

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The full text of the notice can be downloaded below.

 

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