The Maldives Parliament has moved to slash duties on a number of goods imported through regional ports of the country in Kulhudhuffushi and Addu City.
The Parliament today passed to reduce the duties on items after the Whole House Committee evaluated the amendments proposed by Gan MP Mohamed Wisaam. MP for Central Hithadhoo Mohamed Rasheed proposed the move to slash goods on items imported through the regional ports and presented several chapters to facilitate the move.
Chapters proposed for the 50 per cent cut on duties
Chapter 22: The chapter covers beverages and ready-made products. They include energy drinks, soft drinks, alcohol products.
Chapter 25: The chapter covers salt, sulfur, soil, limestone products. A zero per cent duty on these items is proposed so no changes would come forth if imported through any port.
Chapter 33: The chapter covers essential oil and cosmetics items such as perfumes. A 20 per cent reduction of duties is already proposed and if imported through the regional ports, it will mean that a further reduction will be provided for these items.
Chapter 63: The chapter covers used clothes, items made from fabric, and used fabric items. The chapter also includes seat covers of land vehicles. A 50 per cent duty is currently levied on these items.
Chapter 70: The chapter covers glass items.
Chapter 87: The chapter covers land vehicles. A duty of over 100 per cent is currently levied on these items. Importers are entitled to a 50 per cent reduction of duties if the products are imported through regional ports.
Chapter 96: This chapter covers tobacco items. Currently, a 200 per cent duty on these products is levied.
The parliament moved to slash duties on these items when it passed the amendments today. A reduction of duties on metal sheets and construction metal is also proposed. Proposed other amendments include zinc made tins from which a 15 per cent reduction was passed.
Moreover, ceramic items, kitchenware, and tableware items will also see a reduced duty.
Full details are available at the link below:
Source URL: Bing News :
