Kuwait: Customs extends 10% increase in steel import duties

The Director General of the General Administration of Customs, Abdullah Al-Sharhan, issued a decision to extend the increase in customs duties on rebar and wire rod from 5 percent to 10 percent for a full year. Al-Sharhan's decision comes in addition to Customs Instructions No. 2 of 2023 regarding raising customs duties on iron imports, and based on the letter of the Ministry of Finance on July 8, which includes a reference to the letter of the General Secretariat of the Gulf Cooperation Council dated July 4 regarding the decision of the 121st Financial and Economic Cooperation Committee held on May 30 in Doha.