NATION

A-G Announces Duty Reduction Measures

Duty on imported building materials like sawn timber and plywood has been reduced to five per cent, says Attorney-General Aiyaz Sayed-Khaiyum. “We have now relaxed the importation rates or duties
09 Mar 2016 12:57
A-G Announces Duty Reduction Measures
Attorney-General Aiyaz Sayed-Khaiyum.

Duty on imported building materials like sawn timber and plywood has been reduced to five per cent, says Attorney-General Aiyaz Sayed-Khaiyum.

“We have now relaxed the importation rates or duties on two major items till the end of April; all importation of sawn timber and plywood will now attract a five per cent duty,” the A-G said during a press conference in his office yesterday.

“Of course you have to pay VAT but the duty has now been reduced to five per cent,” he said.

Mr Sayed-Khaiyum said similarly duty has now been reduced for electrical cables and insulated electrical conductors

“It has been reduced from 32 per cent to five per cent and the excise duty has been reduced from 10 per cent to five per cent,” he said.

Mr Sayed-Khaiyum said the duty reduction would be in force until the end of April to allow people to be able to import and rebuild their homes, their businesses, their factories.

“Of course at the end of April we will do a review and see if it needs to continue,” he said.

 

Edited by Manasa Kalouniviti

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