By NATION REPORTEROIL marketing companies will no longer pay customs duty on petroleum products brought into the country.Government has removed customs and import duty from petroleum products supplied in the country.According to a letter by Ministry of Energy Permanent Secretary Himba Cheelo to heads of Oil Marketing Companies (OMCs) Government has amended the customs duty rate in Chapter 27 of the Customs and Excise Act Cap 322 from 25 percent to free rate.Ms Cheelo said this applied to importation of petrol and low Sulphur Gas Oil and shall come into effect on 1st January 2023.“In view of the above, please be further advised that there shall be no further requirement for import permits from the ministry of Energy,” he said.She said the OMCs were required to submit their projected importation quantities for the first quarter of 2023, to the Ministry of Energy by end of business on December 30, 2022.Ms Cheelo reminded OMCs of the […]
Govt removes customs duty from petroleum products
