Egypt targets EGP 100B in customs revenues for FY2024/25
Updated 5/22/2024 8:21:00 AM
Arab Finance: Egypt is targeting garnering up to EGP 100 billion in customs revenues for the upcoming fiscal year (FY) 2024/2025, which is higher than the current FY’s target of EGP 70 billion, Chairman of the Egyptian Tax Authority (ETA) El-Shahhat Ghattori told Asharq Business.
Ghattori also pointed out that the authority released $25 billion worth of goods since the beginning of the year.
Moreover, he added that about 32,000 cars were received so far under the tax-free car import initiative.
Minister of Finance Mohamed Maait previously announced the expiry of this initiative on April 29th, with no plans for extensions.
In October 2022, the cabinet approved enabling Egyptian expatriates holding valid residencies to import cars exempted from customs clearance fees and taxes, including the value-added tax (VAT) and payroll tax.
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