Section 39: The Finance Act, 2011 is amended as follows–

(a) by the repeal and replacement of section 11 by the following new section– 11 (1) Subject to subsection (2)new and existing businesses importing plants, machinery or or equipment excluding vehicles shall be entitled to duty free import for a period of three years from the date of first registration. (2) Subsection(1) shall apply– (a) in the case of a new business if it invests at least US$10,000,000.00; and (b) in the case of an existing business if it invests at least UD$5,000,000.00 in expanding the business. (b) by inserting immediately after subsection (1) the following new definition– “(2) for the purposes of subsection (1), raw materials means– (i) basic materials which are needed for the manufacture of goods, but which are still in a raw, natural, unrefined or unmanufactured state; and (ii) for a manufacturer, any material or goods which are required for his manufacturing process, whether they has actually been previously manufactured or are processed or are still in a raw or natural state.” (c) by inserting “new” after the word “any” in sections 24 and 25; (d) by repealing section 26. 28 29 Importation of plants machinery or equipment. of section 6 of Act No. of 2007. of Act No.12 of 2011. of Act No. 7 of 2006. The Goods and Services Tax Act 2009