The Ministry of Finance is planning to adjust taxes on some products to discourage their importation in order to curb inflation.
Eleven groups of products will be taxed an additional 5-10 percent. The taxes currently imposed for these products are more than four percent lower than the World Trade Organisation’s regulated levels for 2011.
Accordingly, import taxes for ink-jet printers will increase from 0 to 5 percent, tobacco tax will rise from 30 percent to 50 percent, and tax on magnetic tape for video recording will go up 15 percent, respectively.
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