Angola‘s revised Customs Tariff, which is due to enter into force on 29 December, eliminates the current export tax on crude ores, set at 5.0% until now, the General Taxation Administration (AGT) said in a statement released on Thursday in Luanda.
The document also sets out a tax exemption on goods imported as part of private investment projects and the extension of exemptions on products for humanitarian purposes imported by churches and non–governmental organisations.
The AGT statement said that the revised Customs Tariff was required due to the entry into force of the free trade areas of the Southern African Development Community (SADC) and the African Union.
Another reason for the adoption of a new scheme, according to the AGT, is the introduction of Value Added Tax (VAT), with a single rate of 14%, which made it unnecessary to repeat the tax across the tables attached to the decree (Revised Customs Tariff).
The new Customs Tariff is a review of Legislative Presidential Decree no. 3/18 (current tariff), which retains the basic assumptions of the 2017 version of the harmonised system of designation and codification of goods, of the World Customs Organization, of which Angola is a member. (Source: macauhub)