The revised Customs Tariff, which comes into force on 29 December this year, has eliminated the export rate of raw minerals, previously set at five percent.
The document also provides for the exemption of goods imported under private investment projects and the extension of exemptions for humanitarian goods imported by churches and non-governmental organizations.
According to a note from the General Tax Administration (AGT), which Angop had access today the review is in line with the entry into force of the SADC and African Union free trade zones.
AGT notes that a new layout of the attached tables has been adopted, making it clear that there are no preferential rates, which may take place after negotiations with the regional and continental bodies (SADC/AU).
Another reason for the adoption of a new scheme, according to the AGT, is the introduction of the Value Added Tax (VAT), with a single rate of 14%, which made it unnecessary to repeat the various tables annexed to it.
Source: Angop
