By Derick Tsimba
Following the press statement by President Emmerson Mnangagwa on 12 January 2019 on fuel price adjustments, Zimbabwe Revenue Authority (ZIMRA) is urging businesses to benefit from the fuel duty refund facility.
In its notice to business players recently, ZIMRA said Government had put in place a mechanism to refund businesses due to increases on fuel prices.
“Government put in place a fuel duty refund facility to provide relief to identified productive sectors. The facility is meant to curtail possible price increases due to increases in retail pump prices of fuel,” said ZIMRA.
The tax authority also said in its notice that it intended to guide businesses to register for the fuel duty refund facility.
“The purpose of this notice is to guide businesses and their business associations on the requirements for successful registration for those who chose to benefit from the relief provided by the Excise Duty Refund facility.
“The refund shall apply only to the fuel supplied to the following identified productive sectors, Agriculture, Mining, Manufacturing and Transport,” said the Tax Authority.
“The Excise Duty Refund facility is accessible to registered beneficiaries who meet the following criteria as prescribed by the Minister of Finance and Economic Development, Mthuli Ncube. Prices of goods and services by beneficiaries are not expected to increase relative to the latest change in the price of fuel, the beneficiaries should be registered for tax purposes and be tax compliant, be members of a recognised Business Association in any of the above specified productive sectors.
Harare Post has learnt that beneficiaries of the refund facility must register with ZIMRA through their business associations.