Tax will have a significant role to play on the development of the Africa Continental Free Trade Area (AfCFTA). The AfCFTA is billed to become the world largest free trade. It will create a single market of 1.2 billion Africans and GDP of $2.5 Trillion. While this clearly spells great opportunities for business, there are some barriers. The free trade area lofty goals are to enable free movement of goods,services and people across Africa.
See our founder Dorothy Kang’oro speak to the SABC on how tax will impact on the Africa Continental Free Trade Area. She expounds on the need to continue the harmonization of taxes and eliminating tariff and non -tariff barriers. Dorothy notes that there is need to continue efforts of the regional bodies. Tariff barriers such as the myriad of customs duties business have to pay when importing goods are a key concern. Similarly the non-tariff barriers such as lengthy and complicated importation processes can adversely affect the development of AfCFTA.
