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 28^th 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 1^st July, 1994. Consequently, the instructions contained in the aforementioned F.E. Circulars will be deemed to have been withdrawn as from the 1^st July, 1994.