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Trade

Customs Tariff 2022 proposal suggests 10 percent reduction in car import taxes

The Customs Tariff 2022 proposal provides for an attenuation of tax rates on the import of some products, such as cars. According to Jerónimo Cambalangaja, director of customs services at the General Tax Administration (AGT), the document suggests a 10 percent reduction in import taxes on cars and electronic equipment.

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As an example, the official said that the import taxes on a Lexus car were 30 percent of the import duties, however, with the new document, the taxes are cut by 10 percent, coming down to 20 percent.

Cited by Angop, the official - who was speaking on the sidelines of the seminar on "Customs Tariff of the Harmonized System (version 2022)" - also made it known that for other vehicles, with this new proposal, the rate of 25 percent drops to 15 percent.

He also mentioned that apparel imports also suffered a slackening, as the country does not have "an apparel production response yet".

"We also saw that there is a consumption of jewelry and perfumery that the country does not respond to. We had increased taxes and they were relieved", he said, quoted by Angop.

He also took the opportunity to inform that public transport of goods and passengers continues with free rates.

Jerónimo Cambalangaja also added that 11 products of the basic basket have free rate, and the tariff increase varies between zero and 55 percent.

The director of customs services at AGT also revealed that the new document contributed to stimulating national production: "The agenda comes as one of the Executive's tools for increasing national production and society do not consume everything that is harmful to society".

He also made it known that until the end of this month the AGT is collecting contributions, in order to close them and proceed for approval by the Council of Ministers.

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