Finance (No. 2) Bill, 2012 – H.B. 6, 2012 Clause 6 The Finance Act, 2004 (No. 18 of 2004) inserted a new section in the Value Added Tax Act providing for the deferment of the collection of VAT on the importation of certain goods of a capital nature. Cases have arisen where beneficiaries of the deferment have failed to pay the tax deferred on the expiry of the period of deferment. The effect of this amendment is to subject such defaulters to penalties for non-payment of the deferred tax after the period of deferment. Clause 7 This clause seems to amend the Customs and Excise Act by excluding certain vehicles from the scope of the special excise duty on sales or disposals of second-hand motor vehicles. The vehicles in question are those donated to the Government of Zimbabwe by a private voluntary organisation or a non-resident entity upon the completion of a project that was that subject of an agreement between the Government and the organisation or entity concerned. Clause 8 In order to protect the assets of the Air Zimbabwe Corporation or its successor company from attachment by its creditors, it is proposed to extend to it the provisions of the State Liabilities Act [Chapter 22:13]. However, this protection is only temporary to enable the Corporation to repay its creditors in an orderly fashion, and will expire on the 1st January 2015. Clause 9 This clause seeks to correct an error in section 11 of the Finance Act 2012 (No. 4 of 2012). 2