Economy Ministry: No new import taxes planned

The Ministry of Economy and Trade has moved to calm market concerns following reports about potential consumption taxes on imported goods. The Ministry confirmed that whilst such a proposal exists, it remains under consideration with no plans for immediate implementation.

“What has been circulated regarding consumption fees is merely a proposal studied at the request of national factory owners,” a Ministry spokesperson clarified. “This was examined as part of our efforts to protect Libyan industry and local products from harmful dumping practices.”

Officials confirmed the proposal has been forwarded to the Prime Minister’s Office for review within the broader framework of national economic policy, but emphasised that “no official decision has been taken to date.”

The Ministry was categorical that “there is no intention at present, given our country’s current circumstances, to impose any new taxes on imported goods.”

The original proposal would have targeted foreign products that compete with locally-manufactured alternatives, as well as imports deemed excessive to Libya’s domestic requirements that contribute to increased foreign currency outflows. The measure was designed on the principle of reciprocal treatment with trading partners.

Local business observers note the clarification provides temporary reassurance to importers whilst leaving the door open for potential future protectionist measures once economic conditions improve.​​​​​​​​​​​​​​​​