Namibia has reduced the export levy charged on the exportation of skins and hides to support value addition and growth in the livestock industry.
Ministry of Finance Spokesperson Wilson Shikoto confirmed the development in a press statement on Sunday.
He said the levy charged on the exportation of raw skin and hides has been reduced from 60% to 15% while pickled skin exports have been reduced from 15% to 10%.
“The balanced approach allows the availability of skins and hides for local value addition while also allowing producers to export surplus products.This revision is intended to improve market flexibility, support revenue generation for producers and increase global competitiveness for Namibia’s livestock products,” Shikoto said.
Shikoto said the increased competitiveness will result in job creation and growth in the industry.
The reduction was also confirmed in a government gazette signed by Finance minister Ericah Shafudha in April.
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