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Alba Iulia
Monday, August 15, 2022

Extension of waiving tax on imported fuel, while helping consumers will see Government lose Money

Economy Extension of waiving tax on imported fuel, while helping consumers will see...

Energy expert Johnstone Chikwanda has said that the further six months extension of the suspension of customs and excise duty on the importation of petroleum products will see the government lose about K3 billion in revenue.

Finance minister Dr. Situmbeko Musokotwane has authorized customs duty for petrol, diesel, kerosene, and liquefied petroleum gas imported into Zambia to remain suspended until 30 June 2022.

Mr. Chikwanda, however, said that the decision by the government to continue with the policy of waiving tax on imported fuel which was initially implemented last year by the previous regime in an attempt to avoid a fuel price hike simply means that the government is trying to be sensitive and cognizant to the needs of the consumers and retailers.

Mr. Chikwanda explained that the development gives relief to the consumers and oil importers because fuel prices will not go up any time soon and the importers do not need extra money to pay for the taxes.

Mr. Chikwanda has noted the need for government to seriously engage with stakeholders and the public before it can actually reinstate the taxes.

This week Dr. Musokotwane extended the suspension of customs and excise duty on petroleum products. In Statutory Instrument No.2 of 2022, dated 11th January 2022, the excise duty on petroleum and diesel remains suspended until 30th June 2022.

To prevent fuel increase, the previous government suspended the collection of these taxes(customs duty, excise duty, and VAT) by the Zambia Revenue Authority.

11 COMMENTS

  1. You promised heaven on earth, now you have failed all you do is find excuses to give the Zambian people.

    As I drink in kafue, many supporters of upnd are coming to greet me and beg me to join upnd because they are not happy with how things are going. They are saying kaizar we know how good you are at strategies and reading political moods. I am sorry but I remain loyal to pf

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  2. . Chikwanda, however, said that the decision by the government to continue with the policy of waiving tax on imported fuel which was initially implemented last year by the previous regime in an attempt to avoid a fuel price hike simply means that the government is trying to be sensitive and cognizant to the needs of the consumers and retailers. PREVIOUS REGIME? So these guys don’t have ideas of their own? We won’t borrow money when we form Government…etc but it’s now kalela forward mama while reversing.

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  3. Guys we told you that PF would be VINDICATED. What new dark government has done is exactly what PF did.

    They are afraid of fuel prices to go up. Instead of gaining, new dark government will be losing K3 Billion.

    PF has been VINDICATED in two areas so far, suspension of customs and excise duty on importation and handling of Covid-19.

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  4. Fuel and electricity are agents for development. No country in the world can do without them so they should be considered as essential necessities and must never be taxed.

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  5. Waiver of taxes and duty will cost govt 3 billion kwacha which should have normally been collected and used for school fees. So subsidies are still there and some lunatics are cheating that they have removed subsidies. Can some with brains explain

  6. Oh! Oooh! So that’s it? Government to lose money? PF did it for the wrong reasoning behind it if it was beneficial to stabilized fuel pump pricing and if all along it was known to be something beneficial to public good why then wait till elections were nigh? Ndeloleshyafye all the criticism of the “New Dawn” making the rounds out of impatience to quickly recover from two terms of Pee-a-Fool’s mismanagement! I have patience to observe things as governance progresses until August 12, 2022 when I’ll analyze achievements of HH and his team!

  7. This waiver on import taxes should translate into an immediate reduction in the pump price of fuel, this is what people want to see. Problem remauns with greedy fuel suppliers. ERB must get on the ground to see that a fuel price reduction happens because as it stands things are becoming economically challenging for most Zambians due to high fuel prices.

  8. kaizer zulu you are now hallucinating! People coming to beg you to join UPND? Nevertheless you have the entitlement of freely hallucinating sir. Best wishes.

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