By Sami Zaptia.
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.
|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|
|3||Medicines, medical goods, equipment and supplies||0|
|4||Children’s milk and food||0|
|5||Mother & child needs||30|
|8||Livestock, & frozen meats / poultry/ fish / meat||30|
|9||Raw materials for domestic manufacturing||0|
|10||Cement, paint & building pastes||30|
|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|
|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.