Angola: New customs tariffs aim to benefit local production

29 February 2008

Luanda, Angola, 29 Feb – The Angolan Finance Ministry plans to introduce new customs tariffs, with the aim of encouraging Angolan production, with the tax exemption on imports of raw materials, equipment and intermediate goods for industry.

According to Angolan news agency Angop, the new tariffs, the list of which was analyzed Tuesday by Angola’s National Assembly, customs tariffs on 58 categories of basic goods have been reduced.

The Finance Minister, José Pedro de Morais Júnior, who was speaking at the end of a parliamentary session, said that revision of tariffs aimed to harmonize the system and adjust taxes on some products.

The National Assembly has also given authorization to the Government to adjust import rights and update customs tariffs in line with the 2007 version of the Nomenclature of the Harmonized System for Designation and Coding of Goods.

The authorization includes creation of an added import tax on the customs value of alcoholic beverages and liquids, tobacco and its derivatives and vehicles and other luxury items. (macauhub)