Israel is ready to lower the duty on the import of diamonds from the current 0.135% to 0.1%, confirmed Israeli diamond controller Shmuel Mordechai (Shmuel Mordechai), according to Rapaport.
The Knesset Finance Committee approved a reduction in the duty on February 24, 2014, at a meeting that was held with the participation of representatives of the Israeli diamond industry.
Members of the commission met with Mordechai and members of the Israel Diamond Institute (IDI) to discuss the issue of lowering the fee to promote the development of the local diamond industry.
Mordechai expressed the hope that the decision to lower the fee will come into force before the end of February.