The Egyptian government expects to garner revenues of around $2 billion from registered applications submitted by Egyptians abroad to benefit from the tax-free car import initiative, Minister of Finance Mohamed Maait stated.

Egypt has raised up to $760 million from the tax-free car import initiative since its launch.

The deadline for Egyptians abroad to apply for the tax-free car import initiative is on April 29th, with no intentions to extend it further, Minister of Finance Mohamed Maait announced.

The Egyptian government has finally released 25,000 cars for Egyptians living abroad under the tax-free car import initiative.

Egypt has collected $685 million from the second phase of the tax-free car import initiative since launch last October, Head of the Egyptian Customs Authority (ECA) El-Shahat Ghatoury stated.

The Egyptian cabinet has approved extending the period of the tax-free car import initiative for another three months to widen the beneficiary base, Minister of Finance Mohamed Maait said.

Egypt has relaunched the tax-free car import initiative by reactivating the initiative’s app.

Egypt is planning to collect up to $1 billion from the tax-free car import initiative after collecting a sum of $800 million in the first phase.

The cabinet has allowed 84,000 Egyptian expats who are registered in the tax-free car import initiative to finalize their payments within a month to obtain import approvals.

The application for the state’s initiative to facilitate the import of cars by Egyptian expats from abroad and the payment of the required deposit were set to end on May 14th.