Namibia cut taxes on animal skins sold overseas from 60 percent down to 15 percent. Officials also lowered fees on treated skins from 15 percent to 10 percent. The Finance Ministry made these changes to help farmers and ranchers earn more money. Wilson Shikoto speaks for the ministry and explains the new rules help livestock businesses compete better around the world.
The government wants local companies to process more animal products at home before selling them abroad. Farmers can still send extra skins to other countries after taking care of domestic needs first. These policy changes should create more jobs across rural towns and cities. Shikoto says the reforms make Namibian meat and leather products stronger against foreign competition.
Lower export taxes give producers more flexibility when choosing where to sell their goods. The ministry believes these moves will boost income for people raising cattle and other animals. Local factories should benefit from having steady supplies of raw materials to work with. The changes aim to grow the entire livestock industry throughout the country.
The government wants local companies to process more animal products at home before selling them abroad. Farmers can still send extra skins to other countries after taking care of domestic needs first. These policy changes should create more jobs across rural towns and cities. Shikoto says the reforms make Namibian meat and leather products stronger against foreign competition.
Lower export taxes give producers more flexibility when choosing where to sell their goods. The ministry believes these moves will boost income for people raising cattle and other animals. Local factories should benefit from having steady supplies of raw materials to work with. The changes aim to grow the entire livestock industry throughout the country.
