馃嚦馃嚘NamibiaSouthern Africa
Namibia reconsiders ban on importing vehicles older than 12 years
via The Namibian2 min read
Namibia's government is re-evaluating its ban on importing vehicles older than 12 years, as Finance Minister Ericah Shafudah indicated the policy may have inadvertently increased costs for consumers without preventing older vehicles from entering the market. The policy was initially implemented due to concerns from local vehicle dealers. During an engagement with 'order with me' operators in Windhoek, Shafudah noted that many import policies predate the rise of online shopping and small-scale import businesses. Uzakuje Kamuvete, an operator importing vehicles from Botswana, highlighted inconsistencies in vehicle valuations at border posts, stating that import duties are sometimes calculated on values higher than the actual purchase price. Koleni Shiyaka, another operator, expressed concern that customs duties and value-added tax are burdening emerging businesses and suggested a fixed valuation system for imported vehicles if purchase invoices are not accepted. She warned that delays in addressing these issues could lead to business closures. Current customs rules require informal traders to pay a 10% customs duty and 16.5% value-added tax, or a flat rate of 20% on imported goods. Namibia Revenue Agency Namra Commissioner Sam Shivute affirmed the agency's support for small business growth and the facilitation of trade, emphasizing the need to educate traders on customs duty and tax calculations.
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This summary was AI-generated from a story originally published by The Namibian.
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