Government through the Ministry of Finance, Economic Planning and Development has announced new tax measures for customs and exercise which became effective on the midnight of 9 September 2019.
In a press release available to this publication, among the measures include introduction of a zero rate value added Tax (VAT) on Liquefied Petroleum Gas and gas cylinders.
‚ÄúPreviously, Liquefied Petroleum Gas attracted VAT at a rate of 16.5%, therefore introduction of a zero rate has necessitated a downward revision of the maximum allowed retail price of LPG. The old retail price was 2,048.56, the new retail price is 1,744.75 making a percentage of- 17.41,‚ÄĚreads the statement in part.
The Ministry is therefore asking all consumers who purchased Liquefied Petroleum Gas at a price of 2,048.56 after the effective dates of amendments to the customs and excise (Tariffs) order are free to claim the excess amount paid upon producing validation of a receipt.