Angola’s new customs tariff, which exempts from taxation the import of products included in the basic basket and hospital equipment, takes force this Thursday, three months after it was approved by presidential legislative decree, reports the newspaper Jornal de Angola.
The document expands the list of merchandise exempt from import duties and consumption tax and modifies the rates for importing and exporting several others. Among the group of merchandise to be exempted from duties are passenger transport vehicles with 18 or more seats.
The group also encompasses industrial production machinery, construction or mining machinery or devices, seeds, pesticides, fertiliser, tractors and manual implements or equipment for farming, without the need to apply for exemption beforehand.
The newspaper also reports that this legal instrument places Angola among the Southern Africa Development Community (SADC) countries with the most merchandise categories exempt from import duties, according to a study by the General Tax Administration (AGT).
Ahead of Angola are only the five countries comprising the Southern African Customs Union (SACU) – South Africa, Botswana, Lesotho, Namibia and Eswatini (formerly Swaziland) – and the tax havens of Mauritius and Seychelles.
The new customs tariff is in accordance with the 2017 version of the Harmonised Commodity Description and Coding System of the World Customs Organisation, a document subject to revision every five years to adjust to progress in science, technology and international trade.
Besides expanding tax benefits, the 2017 harmonised version of the customs tariff also revises all customs procedures to simplify, streamline and harmonise them with international instruments of the World Customs Organisation and Word Trade Organisation. (Macauhub)