Posted by @thecustomsguru on Thur 28 Feb 2019
The monetary policy statement has set into motion a series of events that most likely going to affect importation of goods. The Reserve Bank of Zimbabwe recently re-denominated bond notes, bond coins and RTGS balances (electronic money) to RTGS dollars. This made the RTGS dollars formally exchangeable with US dollars and other foreign currencies.
The Minister of Finance, in his budget statement made a list of items that would now attract customs duty in foreign currency. This means that people no longer pay their duties using RTGS, swipe or even bond notes.
A number of items have also been affected. The bulk of the items fall under the most commonly imported items. There are 4 main
Zimra has published a notice number 43 of 2018, clarifying the quantities that are allowed under the traveler’s rebate and what is termed or deemed to be a commercial importation that attracts duty.