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Related Keywords: 2018 National Budget, aimed at protecting local textile industries, begin effect tax measures, fabric specification declaration form, Finance minister Patrick Chinamasa, from ten to thirty percent, imported cotton fabric, influx dumped cheap imported fabrics, proposed to increase customs duty, starting from January, tariff codes

Finance minister Patrick Chinamasa in his 2018 National Budget statement announced that the government to begin effect tax measures starting from January1 aimed at protecting local textile industries.

He said that it is proposed to increase customs duty on imported cotton fabric from 10% to 30% plus $2,50 per kilogramme, with effect from January 1, 2018.

Notwithstanding support measures availed by government to the textile manufacturing industry, the sector continues to face competition due to the influx of dumped cheap imported fabrics.

Related Keywords: boost capacity, Finance minister Patrick Chinamasa, increase customs duty on poly-knitted fabric, Manufacturers’ Rebate of duty, open general import licence, removal of blankets, twenty four months, Zimbabwean textile sector

Finance minister Patrick Chinamasa announces removal of blankets from the Open General Import Licence for a period of 24 months, as it would boost their capacity which was welcomed by the Zimbabwean textile sector. However, the sector was quick to urge the government to be implementers of the policies not only crafters.

Presenting his mid-year fiscal policy review last week, Chinamasa said that the textile industry was one of the low hanging fruits, whereby turnaround could be realized within a short period, if adequate support was availed.