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Import goods prices to increase due to customs tariff adjustments

News Bulletin Reports

29-04-2023 | 12:27

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Import goods prices to increase due to customs tariff adjustments

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Starting from May 1st, the prices of imported goods in Lebanon will increase due to adjustments in customs tariffs.

The government's decision to increase the customs dollar according to the Sayrafa exchange rate will cause the prices of many goods to rise.

The percentage of customs duty applied to each item is calculated based on a fixed exchange rate of 60,000 LBP per US dollar, but with the new adjustments, it will be based on the current rate of Sayrafa.

For example, an imported cheese mold with a 25% customs duty will increase by approximately 10%.

However, the percentage increase will vary according to the customs duty rate of each item.

Some affected imported goods include canned vegetables and fruits, chocolate, biscuits, candies, cheeses, and dairy products. Additionally, prices of clothing, electrical appliances, household items, and others will be impacted even more significantly.

But some goods will remain exempt from customs duties, so their prices will not be affected.

However, will the Lebanese authorities be able to prevent prices from going up on all items?

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