E. Africa vows to harmonize taxes to deepen common market

Source: Xinhua| 2018-12-08 03:45:11|Editor: yan
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NAIROBI, Dec. 7 (Xinhua) -- Revenue authorities from the East African Community (EAC) members on Friday vowed to push for the harmonization of their domestic taxes in order to deepen their common market.

The revenue authorities said in Nairobi that to effectively facilitate trade and enhance compliance they agreed to develop a common customs management system to replace the current independent systems at individual state level.

"To further deepen EAC common market revenue authorities resolved to more boldly champion domestic tax harmonization with a view to removing internal distortions to the free movement of labor and investment flows," according to a joint communique issued after the closure of the 45th East African Revenue Authorities Commissioners General and the Regional Joint Coordination Committee meeting.

The communique was signed by the commissioner generals of revenue authorities of Tanzania, Rwanda, Kenya, Uganda and Burundi.

The regional revenue chiefs also pledged to further enhance capacity to combat cargo undervaluation by speedily implementing the electronic EAC customs valuation systems that enable cargo value benchmarking of various goods based on valuation data gleaned from national customs declaration systems.

The EAC customs administrators also said that they shall coordinate research aimed at enhancing their common cargo valuation system.