The Palestinian Authority lost at least $310 million in customs and sales tax in 2011 as a result of importing from or through Israel, the U.N. said Wednesday, urging a radical change to the system.
Israeli trade control causes $310m loss for Palestinians: U.N.
The lost revenue, worth 250 million euros, was equivalent to 3.6 percent of gross domestic product and 18 percent of the tax revenue of the authority, the U.N. Conference on Trade and Development (UNCTAD) said. (File Photo: Reuters)
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