Kahlon cancels import taxes on smartphones

GINI smartphone

From next Sunday, mobile phones will cost hundreds of shekels less.

Minister of Finance Moshe Kahlon has already signed an order canceling the import tax of mobile telephones as part of his "Family Net" tax cut plan, which was unveiled by the Ministry of Finance earlier this week. Importers must pay purchase tax of 15% on the import of mobile phones and smartphones as well as 17% VAT.

This means smartphones should now cost hundreds of shekels less while competition between importers and retailers will intensify. The reduction will come into effect from Sunday, April 23.

For example the cheapest iPhone 7 model in the iDigital chain, which currently costs NIS 3,749, should now cost only NIS 2,868. Samsung's Galaxy S7, which currently costs NIS 2,799 should be reduced to NIS 2,141.

Published by Globes [online], Israel business news - www.globes-online.com - on April 20, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

GINI smartphone
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