The Minister of Finance, Bezalel Smotrich, signed a decree that reduces or cancels the import taxes applicable to a series of products. These are temporary instructions that expired on February 15, 2023 and will now be re-established.
Among other things, the order provides exemption from customs duty on furniture, medicines, building materials, car spare parts, electric bicycles, kitchen utensils, most vegetable oils, most fruit juices, processed and preserved meat, most seeds and more. The exemption is expected to remain in effect until May 31, 2023.
In addition, it establishes a duty exemption for the import of butter in packages of more than 1 kg until the end of 2023, and grants a series of quotas for the import of agricultural products with duty exemption until the end of 2023.
Finance Minister Bezalel Smotrich noted: “Another positive step in the fight against the cost of living. The citizens of Israel are groaning under the burden, and we are doing everything in our power to make it easier for each and every one of them. The tax relief on consumer goods is another step in the right direction, for your sake.”