Motor duty to be in forex- budget

Motor duty to be in forex- budget

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By Michelle Dzvova

Finance and Economic Development Minister Professor Mthuli Ncube in his presentation of the 2019 national budget yesterday (Thursday) said with effect from 23 November, duty tax on imported vehicles will be charged in foreign currency.

Professor Ncube said that the initiative is meant to channel foreign currency to the production sector of the economy.

Meanwhile, Professor Ncube said there will be an increase in excise duty on fuel.

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