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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Import Duties

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Business / Economics

India & EU trade group agree to $ 100 billion deal

India's trade minister, Piyush Goyal says the country will remove the majority of import duties on industrial products from four European countries, in exchange for $100 billion in investments. This, according to Rebecca Bundhun, comes after an economic agreement was signed on Sunday, concluding 16 years of negotiations.  

todayMarch 11, 2024 31

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Business / Economics

Tesla bypasses South Africa due to high import taxes

Elon Musk has announced that Tesla will not sell electric cars in South Africa due to high import duties and taxes, due to a lack of incentives for local electric vehicle manufacturing. Importing a Tesla Cybertruck to South Africa can cost upwards of R1.3 million (incl. VAT). According to ‘My Broadband’, South Africa’s tax regime protects domestic car factories while failing to develop a policy to incentivise local EV manufacturing.

todayJanuary 23, 2024 30

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