Latest: budget-2016-highlights

Budget Highlights 2016 - Measures
12 Feb

Budget Highlights 2016 - Measures

Excise tax reduced from 50% to 10% on motor vehicles less than four years old, between 1500cc and under 2000cc. Tax rate of 152.3% reduced to 85%. Restriction of the importation of used and/or re-conditioned vehicles to under 8 years old from the date of manufacture to the date of importation to be enforced from May 1, 2016. Ban on the importation of used tyres for cars, SUVs, Pickup trucks...
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Budget Highlights 2016 - Tax and Financial Sector Reform
12 Feb

Budget Highlights 2016 - Tax and Financial Sector Reform

Introduction of a graduated, specific rate system for the collection of excise tax on alcohol based on the alcoholic strength. Amendment to the Financial Administration and Audit Act to exempt diplomatic, consular, international, charitable and non-profit organizations, semi-autonomous agencies, government departments and public corporations from the payment of want-of-entry charges, stamp duty...
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Budget Highlights 2016 - Public Security, Business & Investment
12 Feb

Budget Highlights 2016 - Public Security, Business & Investment

$24.6B for the development and modernization of the security sector. US$15M for Citizen Security Strengthening Programme to contribute to reducing crime and violence IDB to support Anti-Money Laundering and Financing of Terrorism initiatives in national risk assessments and capacity building and regulatory reforms among others Financial Intelligence Unit (FIU) to be restructured Government...
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Budget Highlights 2016 - Energy
12 Feb

Budget Highlights 2016 - Energy

Construction of 4 mini-hydro power stations at Kamaira, Kumu, Tumatumari and Tiger Hill. Rehabilitation and operation of Moco Moco Hydropower Scheme to supply power to the Lethem Power Company. Re-development of Tumatumari Hydropower Scheme to supply Mahdia with electricity at low rates. $2.5B to improve GPL’s operational management capabilities. 830 km of the main distribution network...
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