No. I 2018 PART Ill \'\U T ,\DDED T\.\. Amt:>ndmem to Chapter!\/ of Finance Ai't IC 'hapter 23:041 21 Amendment of Schedule to Chapter IV of Cap. 23:04 \\ith effect from the 1st January. 2018, the Schedule to Chapter I\ of the Finance .\ct [Chapter 23:041 is amended in Part IV ("Value Added Withholding Tax.") h) the deletion of "two-third.;;" and the substitUliOil of "one-third". Amendments 22 Eo Value Added Tat Art !Chapter 23: 121 Amendment of section 2 of Cap. 23:12 With {·tTect from the l st January. 2017. section 2 ("Interpretation")( I) of the Value Added Tax. Act [Chapter 23:121 is amended in the definition nf"financial scn·ices" b) the insertion of the following paragraph before paragraph (a)--"( I a) any service provided by a banking institution registered or required to be registered in terms of the Banking Act IChaprer 24:201 (~o. 9 of 1999); or". 23 New section inserted after section 12A in Cap. 23:12 \VithetTect from the lstJanuary, 2018. the Value Added Tax Act [Chaprer 23:121 is amended by the insertion of the follmving section alkr section 12A- "128 Collection of tax on exportation of unbeneficiated lithium, determination of value thereof ( 1) ~otwithstanding section 10( I), tax at the rat(.' of fiYe per centum on the gross fair market value of unheneflciated lithium shall be lnied on a supplier of such lithium for expot1 from Zimbabwe. In this section, :'unbeneticiatcd lithium", in relation to its exportation from Zimbabwe, means lithium exjX)rtcd for use in automoti vc orothcrbatteriesmanufacturedoutsideZimbabwe,orforthemanufactureof lithium carbonate, or for any beneficiation whatsocvcroutside Zimbabwe. (2) For the purposes of this Act unbcnefkiated lithium shall be deemed to be exported from Zimbabwe on the date on which the lithium is, in tenns of section 60 of the Customs Act [Chapter 23:02), deemed to be export,~d. (3) For the pmvoses of this Act the value to be placed on the expot1ation of unheneficiated lithium from Zimbabwe shall be deemed to be- (a) the market value thereof on the date of exportation as detennined by reference to a reputable metals exchange; or (b) the value as reflected on the bill of entry or other docmnent required in terms of section 54 of the Customs and Excise Act [Chapter 23:02] to he delivered to an oftlcer tmder that .\ct; whichever is the higher value. (-1.) Subject to section 6(l)(b). and this section. any pronston of the Customs Act relating to the exportation, transit and dearancc of any goods and the payment and recovery of duty shall apply, with such changes as may he necessary. as if enacted in terms of this Act, whether or not the said provisions apply for the purposes or any duty levied in tcnns of the Customs Act.". 10