As part of the Ministry of Finance’s economic plan to lower the cost of living, a series of orders were published today for the public to cancel tariffs, including:
Elimination of covers of 12% on all imported furniture products – and in particular beds, sofas, chests of drawers, chairs, cabinets and more. The scope of the furniture market in Israel is estimated at NIS 7-8 billion, and the abolition of customs duties is expected to reduce its price to the consumer.
Elimination of caps on a variety of consumer products including medicines and medical products, toilet paper, matches, room perfumes, notebooks and albums, faux fur, fireworks, insecticides and fungicides, tapestries, handkerchiefs, tablecloths and napkins, envelopes, calendars and coloring books for children.
In addition, an order to reduce caps on products and raw materials for industry such as: various salts, oils, nitrates and phosphates, compounds, fertilizers, pesticides, plastics and its products, various rubber products and dyes and more.
This reduction in tariffs is expected to lower the costs of enterprises, increase productivity in the economy and help enterprises succeed in the current period. Along with reducing consumer prices, the “Zero Customs” program is expected to help open up new markets for imports, reduce regulation and increase parallel imports.
Minister of Finance, Avigdor Lieberman: The “Zero Customs” program lowers customs duties on a wide range of products for consumers and industry, which will significantly reduce their prices. The middle class – the backbone of Israeli society “.
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