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"Parliament Plan" approves new increases in taxes and fees


Yesterday, the Parliament's Plan and Budget Committee approved new increases in taxes, fees, and the development fee, which had been on the legislative agenda for 18 months, after the government amended some of the proposed items, which included:

o Canceling the proposed development fee of 2% on durable goods and 5% on local and imported soft drinks in the new draft law.

 o The amusement park tax will remain the same: entry to theatres, amusement parks, clubs, sporting events and other entertainment venues will be subject to a tax of 5-20%.

o Goods purchased from duty-free shops will be subject to a 3% tax, while a 10% duty will be applied to alcohol purchases of more than one liter.

o Increasing the stamp tax will affect insurance: The amendments also raise the stamp tax on most insurance premiums to 1%, and will double the fees for leaving the country, which currently stands at 50 pounds, to 100 pounds.

o Increases in the price of luxury goods: Imported “luxury” goods will be subject to a development fee of 10% of the customs duty: including salmon, shrimp, caviar, chocolate, electric shavers, headphones, watches, some children's toys and blue cheese. (enterprise)

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