africa Angola export Government import Tax Trade

Angola new customs tariff comes into force in August

Approximate reading time: 2 minutes

The Customs Tariff for import/export rights version of 2017 of the World Customs Organisation (WCO) harmonised system will come into force on August 9, with its approval in a Presidential Decree and published in the country’s Gazette.

The document aims to provide the country with a modern customs system to meet the challenges of its development, through national production, attracting investment, promotion of employment of the national workforce.

Under the Presidential Decree of May 9, 2018,  the development of the national productive sector and the diversification of the economy require the adoption of measures that encourage and protect national production.

This legal regulation provides for measures to ensure the increase of domestic production along with other macroeconomic measures provided for in the strategy outlined by the Executive.

Meanwhile, the General Tax Department (AGT) is directed to publicise the version of this document in Portuguese.

AGT is also urged to take the necessary measures to effectively comply with any changes, without prejudice to other allocation and powers that may legally be bestowed.

Among other duties, the AGT should issue and publish instructions and newsletter, bearing the standards, instructions and procedures that have been approved.

This also include prevent, combat and quell the practice of fraud in the export of foreign exchange, unauthorised international trade and illicit trafficking in narcotic or psychotropic substances, weapons, art objects, antiques goods or suspected restrictions.

The new Customs Tariff of import and export duties facilitates the levying operation of tax on imports.

Goods produced in national territory and those imported shall be subject to the consumption rates provided for in this law.

The customs tariff still in force in Angola since 2013 is based on the harmonised system version of 2012.

Source: Angop

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.