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Israeli government to cut levy on polished imports.(FACETS)

The Ministry of Industry, Trade and Labor in Israel has informed the local diamond sector that it will be reducing the nominal levy on polished diamond imports, by 33 percent from 0.2 percent to 0.135 percent.

The order to reduce the import levy on polished diamonds was signed by Eli Yishai, Minister of Industry, Trade and Labor, was expected to be approved by Avraham Hirshenson, Israel's Minister of Finance. Both men were guests at the World Diamond Congress in late June.

"The reduction of polished diamond import taxes

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