Export Levy

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Export Levy

A tax that a country imposes on its exports, which makes them more expensive. Export levies may encourage domestic consumption of domestically produced goods. They are less rare than import tariffs. See also: Import substitution industrialization.
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But more than 50,000 pieces of hides are smuggled out of Tanzania every month, and nearly all its tanneries have shelved production due to insufficient raw materials, denying the government about $264,000 in export levies.
Export levies are usually charged to enhance fiscal income or to achieve strategic goals like enhanced local beneficiation.
China now dominates the cashmere processing industry, and because export levies on its raw cashmere are high, it has become uneconomic for many countries to produce cashmere goods.
That means the treasury misses out on any export levies, which could help fund government efforts to rebuild the country.
Pohamba's address comes at a time that the government intends to introduce export levies on unprocessed raw materials.
Minister Saara Kuugongelwa-Amadhila told The Economist Wednesday that her ministry will in the next two months announce proposals of the differentiated export levies despite the concern from the mining industry.
Shaw River's country manager, Ashley Jones told the Economist this week that it will be rather unfortunate if government were to proceed to gazette "across the board" the controversial export levies because they would make an additional barrier for new mines to start up.
Economist, Emile van Zyl said the proposed taxes and export levies, if implemented, would have killed industries.
While the mining industry did not get any tax relief, the sector will soon be expected to pay export levies on raw materials.
The government has drafted a regulation on export levies.
The imposition of export levies is not thought to have caused production to fall because domestic prices have been boosted by the kina's flotation which began in October, 1994, and has been steadily weakening since then.
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