Mauritania is one of the undeveloped countries benefiting from the ten years' exemption to apply the WTO requirements. The GIRM's 1999 Financial Laws focused on a Government revenue increase but with the reduction of customs duties. Customs formalities have been simplified, imports of essential goods encouraged, and the system of collecting customs duties streamlined. However, Mauritania's system of taxation continues to be heavy for importers. VAT is not applied to exported goods.
Importers consider the import taxes high in comparison to the rest of the world.
Import licenses requirements Import licenses are now easy to obtain. The industrial companies, however, have more facilities in obtaining the license. In such cases, the amount authorized, the validity, and the items to be imported are specified in the authorization. Payments are usually made through irrevocable and confirmed Letters of Credit under the control of the Central Bank of Mauritania or through direct transfer from the bank of importer abroad to the bank of supplier. There are no restrictions on the export of goods from Mauritania.