ArabFinance: The new facilities to the custom-free car imports initiative for Egyptian expatriates that the Cabinet approved have entered into effect, Minister of Finance, Mohamed Maait, stated in an official statement on December 27^th.

The condition of depositing car value three months before the transfer transaction has been canceled, and substituted by submitting a bank statement for the last six months before the transfer, including deposits and transfers, Maait revealed.

He added that the requirement for the authentication of residency documents, bank statements, and car certificates by the Ministry of Foreign Affairs had been also canceled.

Maait noted that cars were reassessed based on different categories; basic, medium, and high.

Therefore, new classes have been added with fewer customs and taxes, subject to the number of accessories, Maait said.

For his part, the Head of the Egyptian Customs Authority, Shahhat Ghattori, revealed that an agreement was reached with customs clearance syndicates and divisions to set an EGP 3,000 ceiling for the customs clearance fees for cars subject to the car imports initiative.

Egypt's wheat imports hit $3.36B in 9 months Updated 11/28/2024 9:52:00 AM

Egypt allocates EGP 10B for medical supplies, pharmaceuticals  Updated 11/27/2024 7:14:00 AM

Egypt’s trade deficit widens 21.3% in August Updated 11/13/2024 2:42:00 PM

Egypt’s strategic reserves of wheat sufficient for 4.6 months Updated 11/12/2024 10:04:00 AM

Egypt cuts LNG imports amid reduced power plant demand Updated 11/11/2024 7:39:00 AM