The Finance and Economic Development ministry has proposed to remove customs duty on additional capital equipment, required by the mining, agriculture and energy sectors.
Presenting the 2023 National Budget in parliament last week, Finance Minister Professor Mthuli Ncube said in response to representations by productive sectors there remains scope to expand the list of capital equipment exempted from customs duty.
Government, in 2022 removed customs duty on capital equipment used by the agriculture, energy, manufacturing, mining and health sectors, citing the need to reduce the cost of doing business as well as simplifying tax administration.
