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Home Business

Libya’s import customs duty adjusted

bySami Zaptia
February 10, 2018
Reading Time: 3 mins read
A A
Libya’s import customs duty adjusted

Libya has adjusted its import duties (Photo: PC/GNA).

By Sami Zaptia.

Libya has adjusted its import duties (Photo: PC/GNA).
The Tripoli-based Presidency Council/Government of National Accord has adjusted its import duties (Photo: PC/GNA).

London, 10 February 2018:

The Faiez Serraj-led Presidency Council/Government of National Accord has announced new adjusted import customs duties for 20 product groups.

Most foodstuffs, wheat, medicines and children’s milk carry zero import tariffs. The majority of the product groups carry a 30 percent customs duty.

 

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  Product group Duty in %
1 Foodstuffs – flour, vegetable/corn oils, tomato paste, dry & concentrated milk, sugar, rice, tea, processed triangle cheese, pasta, canned tuna 0
2 Wheat 0
3 Medicines, medical goods, equipment and supplies 0
4 Children’s milk and food 0
5 Mother & child needs 30
6 Other foodstuffs 40
7 Dairy products 30
8 Livestock, & frozen meats / poultry/ fish / meat 30
9 Raw materials for domestic manufacturing 0
10 Cement, paint & building pastes 30
11 Cleaning material 50
12 Veterinary medicines and needs 30
13 Animal feed (ready-made) 30
14 Fertilizers, seeds, pesticides, agricultural products 30
15 Stationery and bookshop supplies 30
16 Clothes and shoes 30
17 Electrical goods 50
18 Household electrical goods 50
19 Tyres and batteries 50
20 Cars and heavy goods Spare parts 50

 

Items deemed non-essentials such as electrical goods, house-hold (white) electrical goods, tyres and batteries, and car and heavy goods vehicles and their spare parts – incur 50 percent customs duties.

It is believed that the motivation of the reorganization of import duties was motivated by different priorities for the country at this time and the need to increase government revenues.

It will be interesting to see if in reality the relatively weak state institutions will be able to apply these duties in view of the widespread corruption.

Asked to comment about the import duty adjustments, leading Libyan businessman Husni Bey said their effect will be minimal on the current dire economic situation as they do not address the root problems.

 

The Faiez Serraj Presidency Council and Government of National Accord has adjusted import duties. (Source: PC/GNA)
The Faiez Serraj Presidency Council and Government of National Accord has adjusted import duties. (Source: PC/GNA)
Tags: customs import duty tariffsfeatured

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