News Briefs

  Shvat 5, 5772 , 29/01/12

Double Digit Customs Reductions on Food Recommended

The Kadmi Committee on competition recommended, Sunday evening, that customs duties on foods and other consumer goods be reduced by 75 percent over the next three years. Under the recommendation, the Finance Minister would review the continuation of the reduction after that time.

Among the reductions, the tariff on tuna would fall from the current 30 percent to 12 percent, the duty on sausages and most other meat products would go from 50 percent down to 22 percent and the customs on fresh meat would go from 190 percent to 90 percent. Tariffs on items made in small quantities, if at all, locally would be reduced by 40 to 80 percent.

Other archived news briefs:Jan 29 2012, 09:15 PM, 1/29/2012