The proposal for Angola’s Customs Tariff 2017 is under public consultation until the end of May, after which it will be submitted for the consideration of the Minister of Finance, an administrator of the General Tax Administration (AGT) said on Tuesday in Luanda.
Hermenegildo Gaspar told Angolan news agency Angop that the Minister of Finance will take the proposal to the Council of Ministers and, once it has been assessed, will be sent to the National Assembly, the Angolan parliament, for discussion and final approval.
The proposal, with 133 articles, was drawn up on the basis of the 2017 version World Customs Organisation’s Harmonised System, in effect since January, said the AGT director who said he could not predict the date of final approval of the document, “given that we are in an election year.”
The new Customs Tariff exempts 87 types of products out of a total of 400 from import duties and consumer tax, increases tax on some products in order to increase revenue collection and protect the Angolan manufacturing sector and prevent smuggling.
Gaspar said that in this case the supply in the market remained unchanged, but tax revenue did not increase despite customs duties having increased 80%.
Reducing the trend for counterfeit products is another aim of the 2017 Customs Tariff, as increased tax rates of certain goods led to an increase of imports of similar counterfeit, low-cost goods.
Imported motor vehicles are now classified according to engine capacity, with the designation of “luxury” for some vehicles being abandoned, as it is subject to different interpretations by the dispatchers, the Association of Road and Other Transport Equipment Dealers (ACETRO) and other entities. (macauhub)