Luanda - The National Assembly (AN) will discuss and vote on Friday (Dec 8) the Draft Law that authorizes the President of the Republic, as Head of the Executive Power, to legislate on the updating of the Customs Tariff of Import and Export Duties.
The legislative authorization aims to update the Customs Tariff, in force in the country, approved by Presidential Legislative Decree No. 10/19, of November 29, in order to adapt it to the 2022 version of the Nomenclature of the Harmonized System (HS) of Commodity Description and Coding.
The specialized committees of the National Assembly approved, on Wednesday, the Joint Opinion Report of the Draft Law for the Legislative Authorization of the Customs Tariff of Import and Export Duties.
The scope of this legislative procedure is to adjust the rates of import duties applicable to imported goods and to similar or identical products produced in the country, in order to encourage the increase and diversification of national production, namely agricultural production and industrial protection.
This revision and updating also aims to promote and develop the manufacturing sector and to continue a series of industrial projects that, to date, are already able to respond to the country's needs and contribute to the reduction of the volume of imports of finished products.
The document has a preambular part and a dispositive part with six articles.
The National Assembly approved, by Resolution No. 3/11 of 11 February, the accession of Angola to the International Convention on the Harmonized Commodity Description and Coding System (HS), adopted in Brussels by the Customs Cooperation Council (World Customs Organization) in June 1983, and the Amending Protocol, adopted in Brussels by the Customs Cooperation Council, in June 1986.
Based on the approval of the aforementioned International Convention, the Republic of Angola undertook to align the respective tariff and statistical nomenclatures with the Harmonized System.
According to the reasoning, in addition to international reasons, it is imperative to ensure the full inclusion of the Customs Tariff on Import and Export Duties in the current macroeconomic context of the country.
The 1st Extraordinary Plenary Meeting of the 2nd Legislative Session of the V Legislature, to be held this Friday, also reserves the discussion and vote, in general, of the Draft Laws on the General Regime of Public Funds and on Mining of Cryptocurrencies and other Virtual Assets.
On the other hand, the specialized committees of the National Assembly rescheduled for next Monday the discussion and vote on the Joint Opinion Report on the Draft Law approving the General State Budget, referring to the 2024 Economic Year, for technical reasons. DC/VM/DOJ
