Lowered taxes on imports!

Lowered taxes on imports!

June 8, 2022

Prime Minister Naftali Bennett and Finance Minister Avigdor Liberman, today, decided to cancel 87 non-obligatory national changes that deviate from the international standard and impede imports from developed countries.

Cancelling the national exceptions will lower barriers to imports, increase competition and lead to a reduction in the cost of living. The decision was made pursuant to professional work led by the Finance Ministry and the Prime Minister's Office.

Among the products included in the reform are vacuum cleaners, pressure cookers, faucets, light fixtures, mattresses, floor tiles, barbeque grills, cribs and beds for infants, changing tables, etc.

Prime Minister Bennett:

"This is how one fights the cost of living from its roots – opening up to genuine competition. Instead of us adopting the standard 'as is', we have formulated a method that adopts the standard 'as Israel'. Every such addition makes imports more expensive and blocks competition, and this is unnecessary. From now on, everyone can bring in any product that meets with European standard. The market will be open to competition and a variety of products, without unnecessary bureaucracy and – mainly – at much lower costs. We promised to reduce unnecessary regulation and we are doing so."

Finance Minister Liberman:

"There is no reason that a vacuum cleaner that was approved in Berlin cannot also be good in Modi'in. Adapting Israeli regulation to what is accepted around the world will lead to increased competition and a reduction in the cost of living."