Dubai Customs raising customs duty on import of rebar and steel coils from 5% to 10%.
Mar 3, 2019
As per Customs Notification CN(2/2019), Dubai Customs announced an increase in the customs duty on imports of rebar and steel coils from 5% to 10%. The increased duty rate applies starting 17/01/2019 till 31/12/2019.
The increase in duty rates could have a significant impact on costs within sectors that use these products intensely. Importers of the products classified in the HS codes listed must ensure compliance with the new rates announced by Dubai Customs to determine whether the correct duty rate has been applied. Importers of the above products are advised to reassess their tariff classification and procurement flows to address and mitigate the effects of this change.