Gemayel Says the 2% Import Tax Has Nothing to Do with Protectionism

  • Economics
Gemayel Says the 2% Import Tax Has Nothing to Do with Protectionism

Kataeb Samy Gemayel on Tuesday said that he voiced objection to the budget article which imposes a 2% tax on imports, stressing that such a measure would affect a tremendous number of goods.

“Article 63 has nothing to do with the protection of local industries. It is only about amassing money to stash it in the treasury,” he told Al-Joumhouria newspaper.

Gemayel noted that there are several other ways to protect domestic industries, including exemption from electricity bills and good infrastructure.

"It is unacceptable to introduce such a measure without carrying out a study assessing its economic and social impact," Gemayel stressed.

“Before imposing taxes, you should first take a real action to deal with smuggling because it would only be the citizens who will pay the price!"

Source: Kataeb.org