Syria to slash taxes to deal with high food prices

18 Feb 2011

(MENAFN) The Syrian Government said that it plans on slashing taxes on basic foodstuffs and imports in an attempt to compensate increasing food prices and assist low-income earners, reported The Saudi Gazette.

The government had previously cut the tax on cooking oil by 53.3 percent. It also decreased the tax on animal fats by 20 percent and on sugar by 25 percent. Import taxes dropped from 2 to 1 percent as well.

The national social aid fund of Syria began giving out USD250 million of financial aid to 40,000 poor families as 14 percent of Syria’s 22 million population live in severe poverty.

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