Advice to returning residents on duty free benefit

The government on October 17 2024, announced revised regulations relating to the returning residents and diplomats cars through statutory Instrument 172 of 2024, along with SI 54 and SI 111 of 2024 The announcement provided clarity that inherited cars and those from returning citizens and diplomats as defined by Customs and Excise regulations, are no longer included from the ban on importing motor vehicles older than 10 years with specific mention on clause 3B which includes antique, classic, vintage and historic vehicles that are at least 25 years or older from the date of manufacture that should satisfy particular characteristics I must say this was a long awaited clarification regarding the returning citizens and diplomats cars because the law had created a huge ambiguity that literally made every diaspora left with some questions about that It was indeed befitting for the diasporas’ to be allowed to bring their cars irrespective of the age and the requirement to have owned the vehicle six months prior to claiming the duty free facility that was very complicated for many

On the other hand, allowing the antique, classic, vintage and historic vehicles that are at least 25 years or older from the date of manufacture was also necessary as countries like South Africa, irrespective of their strict Motor Industry Development policy, that prohibits the importation of used cars in their country still allows these types of used cars I also know that majority of African countries including Kenya, Uganda, Zambia, Tanzania to mention a few also allows their citizens to bring their cars upon returning home irrespective or their age limit regulations However, when l analysed this benefit, there are many dynamics that the returning residents and diplomats should consider when making the decision whether to bring the car home or not Off course, the circumstances differ from the location where the returning resident is coming from and but it is important to connect that decision to among other things;

The brand popularity in the home country where you are returning is important to check before making the decision to take the vehicle with you

This is critical as it connects to the availability of spare parts, knowledge to service and repair it and value of the motor vehicle If assuming the brand is not so popular back home, then the first step is for you to check the market price of your car in your country of residence and make a comparison with the same back home In majority of African countries, some of the car models such as GWM, Mazda, Citroen, Chevrolet, BMW, Audi, VW and Mercedes Benz, among others, lose value rapidly compared to other models This informs the lack of interests from the customers whether they are right hand or left hand drive vehicles

Your car is your asset and assets are about the value stored in it If the value of the car in your resident country is much higher than the home country, it is advisable to sell it and buy another car when you settle down Considering that there is a cost of transporting the car back home although l know that diplomats don’t use their own money for that.

Source: The Standard Zimbabwe