Treasury cancels customs duty on tomatoes

Cancellation of the customs duty is intended to facilitate tomato imports and reduce the tomato shortage.

The Israel Tax Authority at the Ministry of Finance has issued a directive abolishing customs duty on tomatoes, following the 74% jump in tomato prices in September. This increase was responsible for about half of the 0.3% rise in the Consumer Price Index (CPI) last month. The customs duty on tomatoes is NIS 0.90 per kilogram.

The customs exemption also follows the decision to import tomatoes because of a shortage.

Minister of Finance Yuval Steinitz signed the directive in response to a request by Minister of Agriculture Shalom Simhon to Tax Authority director general Yehuda Nasradishi.

Cancellation of the customs duty is intended to facilitate tomato imports and reduce the tomato shortage caused by weather damage. The exemption will apply through the end of the year and to the quota of 4,000 tons of imports. Imports will come from all over the world.

Published by Globes [online], Israel business news - www.globes-online.com - on October 19, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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