Angola’s customs taxes due to rise

16 May 2013

Customs taxes on some products in Angola will incraese by 20 percentage points to 50 percent this year in order to protect national production, customs officials said cited by financial news agency Bloomberg.

Beer, water, soft drinks and agricultural products will therefore see their customs tarrifs incraese although there will be “tax exemptions for raw materials used for industrial production,” said Garcia Afonso, director of teh Tarrifs and Trade Department of the National Customs Service.

Afonso added that oil trade would be ruled by a seperate model.

The measures have come about due to a drive to modernise tax collecting practices and make them in line with those recommended by the World Customs Organisation and may help the government to diversify the economy. (macauhub)