The Zambian Government has announced that it will not renew the Statutory Instrument that exempted Oil Marketing Companies (OMCs) from paying the Customs Duty of 25%.
The Permanent Secretary in the Ministry of Energy, Himba Cheelo released the communication issued to Oil Marketing Companies.
This is coming after 16% VAT and Excise Duty collection of these taxes were re-introduced and re-imposed on fuel imports in September 2022. However, Import/Customs tarrif remained zero-rated.
From January 1, 2023, fuel imports will be subjected to all taxes including Customs Duty ( 25%), Value Added Tax (16%) and Excise Duty). This will push fuel prices a little up again.
