28th AU Summit: Member States To Implement 0.2% Levy On Eligible Imports
Headlines Africa
Welcome
Login / Register

28th AU Summit: Member States To Implement 0.2% Levy On Eligible Imports

Thanks! Share it with your friends!

URL

You disliked this video. Thanks for the feedback!

Sorry, only registred users can create playlists.
URL


Added by Headlines Africa in Ethiopia
157 Views

Description

The African Union has adopted a self-financing plan that directs all members to implement a 0.2% levy on eligible imports. The decision came into operation in January this year after being adopted at last year's summit in Rwanda. Currently, about 67% of financial contributions are collected annually from member states. However, about 30 countries default either partially or completely -- creating a significant funding gap between planned budget and actual funding. This hinders effective delivery of the AU's agenda. The taxable base of the AU import levy will be the value of eligible goods originating from a non-member state, imported into the territory of a member state to be consumed in the member state.

Post your comment

Comments

Be the first to comment