Simon Akuei Deng, the Commissioner General of the South Sudan Revenue Authority addressing business people in Juba on Friday|Courtesy

The Commissioner General of the South Sudan Revenue Authority has announced a one-month suspension of newly introduced levies in the Finance Act 2024/2025 in accordance with the Bank of South Sudan rate on costums valuation.

Simon Akuei Deng referred to a letter from the Minister of Finance and Planning directing the U-turn.

The finance minister reportedly said significant backlog and stalemate in the clearing of goods and services at South Sudan borders are the primary reason for the suspension.

Mr. Akuei announces on Wednesday that the adjustment in accordance with the current Bank rate will be suspended until 30^th January 2025.

Mr. Akuei added that during this period, all custom valuation shall be conducted using a fixed rate of 300 SSP per USD 1 as provided for the financial act 2023/2024.

Deng assured the public that all relevant personnel are informed of these changes and will adjust their procedures accordingly.

According to the Deng , it’s crucial to work together to address the current stalemate so as to enhance efficiency of customs operations.

On November 25, President Salva Kiir assented to the Financial and Appropriation Acts on November 25, therefore actualizing a 4.2 trillion South Sudan pound fiscal year budget which imposes heavy taxation.

The financial act introduces tax adjustment in Customs Merchandise Conversion Rates, Personal Income Tax, Business Profit Tax, Excise Duty and Customs Levies in accordance with the current Bank of South Sudan rates.

After the finance act came into force, thousands of trucks carrying commercial goods refused to enter South Sudan in strike over illegal checkpoints and the tax adjustment.

Meanwhile, SSRA chief Akuei acknowledged that while the alignment with the Bank’s rate reflects economic realities, it has introduced challenges in the market.

According to him, with the Financial Act, prices in the market have risen due to the adjusted exchange rate.

To enhance efficiency, Deng announced plans to implement automated tax collection systems aimed at reducing reliance on cash transactions and improving transparency in revenue management.