Published: 26 January 2018

The Zimbabwe Government's gave up more than $90 million yearly in potential excise duty on fuel when it decided to cut excise duty on fuel earlier this week as part of an internal devaluation process.

The move is expected to reduce the cost of doing business and make Zimbabwe a more competitive destination for capital.

According to calculations based on official fuel consumption figures, the decision to reduce petrol excise duty by $0, 065 a litre cost Treasury about $30, 8 million in potential revenue while reduction of diesel duty by $0,07 a litre cost another $56,2 million, based on an average of the two petroleum products in 2015.
- Business Weekly

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