The 2023-2024 budget—presented 17 February 2023—includes various changes with respect to payroll, customs and indirect taxes.
Regarding customs and indirect taxes and other miscellaneous fees, the budget proposes the following:
- Extension of customs duty exemption for investments in plant and equipment to the personal care and personal fitness sectors (currently only for restaurants and retailers).
- Revisions to the sugar tax (this will now only apply to high sugar consumables).
- Elimination of taxes on aggregate imports used to manufacture concrete and concrete blocks.
- 5% increase stamp duty fees, trademark fees, fines, solid waste dumping fees, immigration fees (with the exception of passport fees), planning fees, seaborne shipping fees.
Source: KPMG
