Customs duties increased on almonds and walnuts

Adjustments have been made to the additional customs duty rates for many products listed under the heading of textile materials and articles made from them. Customs duty rates on almond and walnut imports have also been increased.

According to the Presidential decree regarding amendments to the import regime decision published in the Official Gazette, the customs duty rate for almond imports has been increased from 2 percent to 15 percent, and the additional financial liability amount has been raised from 452 dollars to 580 dollars per ton for shelled almonds, and from 818 dollars to 942 dollars for shelled-out almonds.

The customs duty rate for walnut imports has been increased from 4 percent to 15 percent, and the additional financial liability amount has been raised from 307 dollars to 416 dollars per ton for walnuts in the shell, and from 573 dollars to 1,099 dollars for shelled walnuts.

In this context, in parallel with the Presidential decree published on August 30 amending the import regime decision, a customs duty of 1 percent for almonds and 2 percent for walnuts, along with the corresponding additional financial liability amounts, will be applied to imports from the United Arab Emirates. The decision will enter into force on November 1.

With another Presidential decree published in the same gazette amending the decision on the application of customs duties on imports, adjustments were made to the additional customs duties for a large number of products listed under the heading of textile materials and articles made from them. The regulation will enter into force in 1 month.

Furthermore, the Official Gazette introduced a privilege for the feed industry regarding the application of customs duty rates on cane molasses imports. While a 10 percent customs duty is stipulated for the import of this product, the rate will continue to be applied at zero for imports intended for use in the feed industry. The application will begin in 1 week.

WHY IS ADDITIONAL CUSTOMS DUTY INCREASED?

An 'additional customs duty' is a countervailing tax levied to ensure that products in sectors intended to be protected from the negative effects of imports can reach a determined price. Such additional tax hikes are implemented to close the gap between domestic and imported products.

News Source: 12punto