A new Customs Tariff SCHEDULE (“Customs Tariff Schedule”) was approved by Presidential Legislative Decree No. 10/19, of 29 November 2019. The new Customs Tariff Schedule covers, among others, the following aspects:

(i)    Adoption of the current version of the nomenclature of the Harmonized Commodity Description and Coding System;
(ii)    Adjustment to the Value Added Tax (“VAT”) and the Special Consumption Tax (“IEC”);
(iii)    Removal of Stamp Duty, Consumption Tax and surcharges, previously applicable;
(iv)    New rules on exemptions applicable to imports made under private investment projects;
(v)    Provision for the future application of preferential rates, to be defined in specific legislation, as a result of the implementation of the Southern African Development Community (“SADC”) Trade Agreement and the Continental Free Trade Area of the African Union (“UA”).

The new Customs Tariff shall enter into force on 29 December 2019.

Should you wish to receive additional information on this alert, please contact:
[email protected]