LUANDA: The government of Angola wants to reduce the customs duties applied to goods and equipment “necessary for national production” under a new tariff list that came into force in March 2014, pursuant to a legislative authorisation approved by parliament.
The legislative authorisation allows the President of Angola, within 90 days, “to amend the rates of the Customs Tariff List on Imports and Exports.”
The document cited by Portuguese news agency Lusa, that does not specify the new rates or goods to be covered, explains the aim of the scheme is to introduce “greater progressiveness to the rates applied to certain products.”
The legislative authorisation also aims to “tax petroleum products and derivatives” and “ease the customs duties on products geared to domestic production.”
The Angolan Parliament justified the legislative authorisation with the fact that “such measures have a positive and direct impact on development and diversification of the national economy as well as increasing tax revenues for the state.”
The new Angolan Customs Tariff came into force on 3 March, 2014, forcing foreign companies to produce locally to avoid increasing taxes, as this was identified at the time as a significant constraint on exports to Angola.
