The Cabinet to Discontinue Discretionary Waivers on Used and New Vehicles

The Cabinet affirmed its decision to discontinue discretionary waivers on the forgiveness of Duty, ABST, Revenue Recovery Charge (RRC), and the Environmental Levy on the importation of used vehicles and on the sale of new vehicles. The Customs and Excise Department, in its year-end report on Revenue Collection in 2023, noted that discretionary waivers exceeded the deficit amount which the government financed by borrowing. The discontinuation of the waivers is premised on filling the gap between revenues and expenditures, which must be undertaken to reduce the borrowings by the government.