The Zambian Government has continued with the policy of waiving tax on imported fuel and foregoing millions in tax revenues into the 2022 budget cycle, a policy that was initially implemented last year.Government had last year 2021 resorted to waiving both excise and customs duty in what was largely seen as an attempt to avoid a fuel price hike as the country was heading for polls in August 2021. The price hike was indeed averted but the lost revenues are now set to continue to at least mid 2022.However, the Zambian government seems to have continued with the policy of waiving these taxes and have simply extended the suspension of customs and excise duty on the importation of petroleum products, which include petrol, diesel, kerosene and liquefied petroleum gas effective 16 January 2022 for another six (6) months.According to information seen by the Zambian Business Times – ZBT, Finance Minister Dr. Situmbeko Musokotwane has authorized […]
Govt abandons tax revenue from imported fuel – extends waiver
