SI 2019-116 - Customs and Excise (Tariff) (Amendment) Notice, 2019 (No. 8) - Reduction of Excise Duty on Petrol, Diesel and Power Kerosene

This statutory instrument was pulished in a Government Gazette Extraordinary dated 20th May 2019.  With effect from that date the statutory instrument, made by the Minister of Finance and Economic Development, reduces the rate of excise duty on leaded petrol and unleaded petrol [down to a uniform rate of $1.15 per litre] and the rate of excise duty on diesel and power kerosene [down to a uniform rate of $0.90 per litre].  The new rates are expressed in the local dollar - not the US dollar.  [The former rates of duty came into effect on 13th January 2019 under SI 9/2019.]

In the same Government Gazette Extraordinary the Minister of Energy and Power Development published a SI 117/2019 amending the Petroleum (Petroleum Products Pricing) Regulations so as to replace the PETROLEUM PRICING MODEL introduced by SI 10/2019 on the 12th January.

The complete SI 116/2019 can be downloaded below.

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