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Tanzania says to introduce clearing fee of 1 pct of value of mineral exports
June 8, 2017 / 2:35 PM / 5 months ago

Tanzania says to introduce clearing fee of 1 pct of value of mineral exports

DODOMA, Tanzania, June 8 (Reuters) - Tanzania plans to introduce a 1 percent clearing fee on the value of mineral exports in 2017/18 (July-June), its finance minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the east African country’s natural resources.

“The government will not allow the direct export of minerals from mines,” finance and planning minister Philip Mpango said in his budget speech in parliament.

“The government will set up clearing houses at international airports, mines and exit border points where a 1 percent clearing fee will be imposed on the value of mineral exports.”

Mpango said the government would announce more details on the new mineral clearing fee at a later date. (Reporting by Fumbuka Ng‘wanakilala; Writing by George Obulutsa; Editing by Mark Potter)

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