According to a press release issued by the General Tax Administration (AGT), the new tariffs will foster the country's productive industries, attract new investment, and promote investment in the country's workforce.
The Angolan president has decreed - under the Legislative Authorization granted by Law no. 23/19, dated September 20, 2019, in conjunction with the provisions in the Constitution of the Republic of Angola - the approval of Presidential Legislative Decree no. 10/19, dated November 29, 2019, corresponding to new customs tariffs on imports and exports. This is a revision of Presidential Legislative Decree no. 3/18 (current custom tariffs), as the basic conditions underpinning the 2017 version of the Harmonized Commodity Description and Coding System of the World Customs Organization, of which the country is a member, still apply.
Given their cross-cutting nature, and especially their impact on society and the economy, customs tariffs are an indispensable strategic tool in determining the macroeconomic policies of any country. Review processes are therefore normal and their purpose is basically to adjust customs tariffs to a particular macroeconomic context. The AGT press release announcing the new decree states that henceforth "we will have customs tariffs that reflect the signs of growth in the country's business context while also seeking to provide due alignment with the Production Support, Export Diversification and Import Substitution Program (PRODESI)" - thus adjusting tariffs on products that can already be obtained locally and reducing the burden on raw materials and other inputs that are indispensable for the country's productive industries. On the other hand, the press release states that exemptions have also been adjusted, with the expansion of exempt humanitarian products imported by churches and non-governmental organizations.
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