AAll
Authorized Dealers
In Foreign Exchange,
Dear
Sirs,
RELEASE
OF FOREIGN EXCHANGE FOR TRAVEL ABROAD – LEVY OF 5%
TAX
Attention
of Authorized Dealers is invited to F.E.
Circulars No. 51 dated the 28th June, 1993
as amended vide F.E. Circular No. 60,
62, 70,
75 and 81
of 1993 and No. 15 of 1994 in terms
of which 5% tax was payable on the amount of foreign exchange
released for travel abroad. It has since been decided by
the Government that the above tax wills not be payable on
the amounts of foreign exchange released for travel abroad
on or after the 1st July, 1994. Consequently,
the instructions contained in the aforementioned F.E. Circulars
will be deemed to have been withdrawn as from the 1st
July, 1994.
