Vehicle licence fees have now been set in US dollars converted at the interbank rate of exchange on the day of payment for the majority who pay in local currency with owners of vehicles under 1 500kg paying $11 200 a four-month term at yesterday’s exchange rate.
In terms of Statutory Instrument 156 of 2022, the 25th amendment to the Vehicle Registration and Licensing Regulations gazetted by Minister of Transport and Infrastructural Development Felix Mhona, the old Zimbabwe schedules have been replaced by new schedules denominated in US dollars.
However, the amendment makes it clear that the fees listed “may be payable in local currency (Zimbabwe dollars) for locally registered vehicles at the ruling exchange rate of the day”.The new fees came into effect yesterday, the day they were gazetted.
The tables giving the tariffs now allow for longer periods than just one term, with vehicle owners given the options of: 4 months, 6 months, 8 months, 10 months and 12 months. The tariffs are identical per month regardless of the length of licence cover desired, there being no discount or premium if longer or shorter periods are chosen.
The shift to US dollars follows other changes in Government fees, with the same proviso that the US dollar rates can be converted on the day of payment to local currency at the official rate, which is now set as the interbank rate for all Government transactions. This can change every business day.
The switch means that gazetted rates will be valid for far longer as inflation adjustments will be far less frequent.Besides the fees to maintain licence cover, the regulations also list the fees for first time registrations and for change of ownership, with much higher fees when the change involves changing the number plates.
For the continuation of licence cover the new fees for a four month term are:
Up to 1 500kg US$20,
1 501kg to 2 250kg US$25,
2 251kg to 3 000kg US$30,
3 001kg to 3 750kg US$60,
3 751kg to 4 250kg US$75,
4 251kg to 5 000kg US$90,
5 001kg to 5 750kg US$100,
5 751kg to 6 250kg US$105,
6 251kg to 7 000kg US$120,
7 001kg to 7 750kg US$130,
7 751kg to 9 250kg US$140,
9 251kg to 10 000kg US$150,
10 001kg to 10 750kg US$200, and
10 751kg and above US$300.
The fees for six months are one and half times the four-month rates, for eight months are twice the four-month rates, for 10 months are 2,5 times the four-month rates and for one year are three times the four-month rates.