South Sudan Revenue Authority Announces Changes in Taxes and Duties
In a recent circular released by the South Sudan Revenue Authority (SSRA), the Commissioner for Corporate Service, Dr. Daniel Kon Ater, announced significant changes in taxes and duties due to the National Government.
The changes come into effect from November 1, 2023, following the enactment of the Financial Act 2023/2024 by the Transitional National Legislative Assembly and its subsequent approval by the President of the Republic of South Sudan.
One of the key changes highlighted in the circular relates to the determination of Customs value for imports and exports. The Financial Act states that the merchandise value in foreign currency will now be converted into South Sudanese Pounds (SSP) using the conversion rate of SSP 300 for USD 1, as opposed to the previous rate of SSP 90 for USD 1.
This change aims to harmonize the Customs value with the actual values determined by using the official exchange rate, aligning South Sudan with international practices.
The implementation of this change is expected to enhance transparency, fairness, and increase tax revenues for the Government of South Sudan. By ensuring importers and exporters contribute their fair share, the Government will be able to improve the provision of essential public services to all citizens of the country.
The South Sudan Revenue Authority urges the general public, including importers and exporters, to comply with the new regulations. Failure to adhere to these changes may result in enforcement measures enacted by the Commissioner General, as per the law.
These measures could include seeking the intervention of other relevant government authorities and appointing tax agents for the purpose of collecting and remitting the tax due to the National Government.
The Commissioner for Corporate Service, Dr. Daniel Kon Ater, emphasized the need for citizens to pay their taxes diligently for national development and stability. It is anticipated that these changes will have a positive impact on the economy and help foster sustainable growth in South Sudan.