Tanzania increases duty on import

0
190

Tanzania increases duty on Goods

In its resolve to protect local industries, Tanzania has increased duty on almost three quarters of the imported goods.

Kenya had also announced similar measures, but on a smaller scale, a decision that would have sweeping changes in the East African Community common external tariff (CET) regime.

Kenya said it was important to grow local industries and increase production while protecting producers from cheap imports.

Last month, finance ministers from the East African Community agreed to effect changes to the CET and make amendments to the EAC Customs Management Act 2004, to protect local industries and farmers from cheap imports of items like sugar, maize, wheat and rice, as well as Customs-related taxation measures.

However, only Tanzania has sought to fully implement these changes in the 2018/19 fiscal year, with Kenya only proposing to implement three of the proposed 25 changes.

Uganda and Rwanda have not proposed any changes in the…



Read More…..NAN