New Zimbabwe.com

Zimra dismisses forex duty payment on vehicle imports

By Alois Vinga

THE Zimbabwe Revenue Authority (Zimra) has dismissed claims that vehicle importers are now required to pay for duty in foreign currency.

There are claims by some vehicle importers that some officials manning the country’s points of entry were demanding foreign currency for duty payments.

However, Zimra’s executive assistant commissioner general, John Chakasikwa refuted the reports describing them as speculative.

“This is news to us and as far as we are concerned we are not making such demands,” he said.

“Normally such issues are of a policy nature and only the minister has the prerogative to make such announcements.

“We suspect that this may be the work of unscrupulous characters intending to dupe innocent vehicle importers as they move to capitalise on the prevailing situation.”

He pointed out that any changes may not be instant as they sometimes require legislative changes which cannot be concluded overnight.

BMI Research said that total vehicle sales in the country have declined by 13,9 percent on the back of the ongoing liquidity crisis and weak economic growth, a Fitch Group research company has revealed
According to the research, total vehicle sales were estimated to reach 24 000 units in 2017 and go further down to 20 000 in 2021 as the economy continues on a downward trend.

BMI pointed out that this ongoing US dollar shortage will continue to restrict the ability of households and businesses to source cash to pay for imported vehicles.