Tripoli: New customs duties on vehicles will take effect across Libya starting tomorrow, following amendments approved by the Libyan Customs Authority. These changes pertain to the estimated values of customs duties on cars, trucks, and motorcycles across all customs departments nationwide.

According to Libyan News Agency, the Customs Authority announced that the amendment was based on a circular from the Ministry of Finance, aiming to unify customs policies across various centers and establish a more accurate tax balance. This initiative is part of broader efforts to reform the tax system and generate additional financial resources in alignment with the government's financial policy priorities. The goal is to achieve tax justice and increase public revenues to bolster the national budget and enhance economic stability.

The new amendments specify a 10% increase in duties on four-wheel-drive vehicles and a 5% increase on front-wheel-drive vehicles, calculated based on the base price of each category. For trucks and heavy machinery trailers, an increase of 5% in estimated customs duty will apply to models older than 2022, with duties starting at 20,000 Libyan dinars. The same rate will apply to models manufactured since 2023, starting at 40,000 dinars.

Motorcycles are also included in the decision, with a 10% customs duty imposed on models older than 2022, starting at 2,000 dinars. This rate will also apply to newer models from 2023, with duties starting at 6,000 dinars.