Data loading...

Israel To Lower Duties On Canned Tuna Imports

Canned tuna imports into Israel are to face lowered customs tariffs after Finance Minister, Yair Lapid, has signed an order to see a decline in the duty this product carries. The current 12 percent + USD 0.97 per kilogram will drop to just 12 percent per kilogram by 2016.

The customs reduction was recommended by the Kedmi Committee after examining the level of competitiveness and prices in Israel’s food and consumer market. The tax cut on canned tuna imports is aimed at creating an effective price reduction and in turn increasing competition in the local market.

A gradual move in the custom tariff will take place from 2013 to 2016, allowing the local industry to adapt to the change. The first reduction will take place on November 1.

From November 1 to December 31, 2013, the customs tariff will stand at 12% + USD 0.83 per kilogram, from January 1 to December 31, 2014, it will go down to 12% + USD 0.55 per kilogram, from January 1 to December 31, 2015, it will drop to 12% + USD 0.28 per kilogram, and from January 1, 2016, it will stand at just 12%.