Israel to Lower Import Duty on Polished Diamonds
Feb 25, 2014 5:32 AM
By Deena Taylor
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RAPAPORT... Israel will lower the import duty on polished diamonds from 0.135 percent to 0.1 percent, Israel's diamond controller Shmuel Mordechai confirmed.
The Knesset's Finance Committee approved the move yesterday at a meeting held together with members of the local diamond industry. The committee met with Mordechai and members of the Israel Diamond Institute (IDI) to discuss lowering the duty in an effort to assist the local diamond industry.
Mordechai told Rapaport News that he hopes the lower duty will become effective before the end of February.
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Tags:
Deena Taylor, diamonds, Duty, Israel, Shmuel Mordechai
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