Water, juices and beer imported by Angola will be subject to import duties of 50 percent of their value according to the new list of customs tariffs due to be applied on 1 January 2014, Angolan newspaper Expansão reported.
The drinks sector is the one that is most affected by a rise in customs duties as the rate applied to beer and water will rise from 30 percent to 50 percent and the rate on juices will increase from 15 percent to 30 percent.
The new list of tariffs may increase the prices of 8 percent, 10 percent, 16 percent and even 20 percent of some of the most imported products, taking into consideration the rise in customs duties, which in some cases will increase from 5 percent to 50 percent.
According to the National Council of Goods Carriers amongst the least imported products price increases may even reach 30 percent.
The newspaper added that the move to increase customs duties on imported products, which is intended to protect Angola’s burgeoning industry, has inflationary risks “at a time when the government wants to keep inflation at a single digit.” (macauhub)