MINISTER of Finance and National Planning Dr Situmbeko Musokotwane says the country has lost $200 million for offering tax relief to OMCs to cushion the increase in fuel prices. Dr Musokotwane said this at the ongoing Spring Meetings of the IMF and the World Bank in the United States. In a statement issued by the Office of the Secretary to the Treasury, Tuesday, Dr Musokotwane called for broader and more strategic use of fiscal policy across Africa. “The price cushioning through tax relief offered to citizens and businesses through suspension of excise duty and zero rating of VAT on petroleum products has resulted in the loss of approximately US$ 200 million. We call for broader and more strategic use of...
