Saturday, July 11, 2009

Burundi: Govt Lowers Tariffs to Combat Corruption, Smuggling

Burundi has lowered import tariffs after joining the East African Community's customs union, reports Reuters.

The tariff on finished merchandise has been lowered from 30% to 25% and that on intermediate goods has gone from 15% to 10%, while raw materials will be zero-rated.

The lowering of import tariffs is expected to reduce incidences of smuggling and corruption among customs officials. Burundi's membership of the East African Community customs union will also open the country to imports from the other four member states of the community.

by TradeInvest Africa, 7 July 2009