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| 3/7/08 - Cabinet approves Customs Tariff Act and Excise Act Amendment Promulgations |
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Cabinet has approved the Customs Tariff Act (Amendment) (No.3) Promulgation 2008 And Excise Act (Amendment) (No.1) Promulgation 2008.
The promulgations will impose a 20 cents/litre export duty on all mineral water exports and a 20 cents/litre excise duty on mineral water sold for domestic consumption.
Cabinet based its decision on a submission by the Minister for Finance, National Planning, Sugar Industry and Public Utilities (Water & Energy), Mr Mahendra Chaudhry.
Mr Chaudhry said that the main purpose of this new duty is to stimulate conservation of our scarce natural resources.
“Mineral water is a scare resource which will deplete and a fair share of returns has to be passed on to the nation.”
He said that this policy will not only address the environmental issues and assist in the monitoring of depletion of this natural resource, it will also give a similar treatment to that applicable to other exports such as sugar, molasses and gold.
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No:1034
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