Arab Finance: The deadline for registering in the tax-free car import for expats' initiative and paying for its determined deposit is on May 14th, Minister of Finance Mohamed Maait stated on April 8^th.

There is no intention to extend the deadline again after May 14th, the minister said.

Moreover, Maait said that 600 imported cars were released for the benefit of Egyptians abroad with facilitated controls.

He also added that the total value of payment orders transferred from Egyptians residing abroad amounted to $385 million so far.

According to the recent legislative amendments, the reduced customs tax by 70% is applied retroactively to the beneficiaries of the initiative, he added.

The total amount of money transferred from Egyptians abroad to the account of the finance ministry is cut by up to 58% based on the car’s engine capacity per liter and the type of fuel, the minister pointed out.

Egyptians living abroad who transferred the cash amounts before the amendment of the initiative shall apply for a refund of the customs tax differences, and it will be refunded in the foreign currency paid within 6 months from the date of submitting orders on the app of cars of Egyptians abroad, Maait said.

Parliament to discuss draft law on customs-free car imports for Egyptians abroad Updated 10/9/2023 8:59:00 AM