Arab Finance: 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, a government official told Asharq Business on October 15^th.

This came days after the Planning and Budget Committee of the House of Representatives approved referring the draft law enabling Egyptians abroad to import customs-free cars to the parliament’s coming general session for discussion.

If approved, the draft law will allow Egyptians overseas to benefit from the tax-free car import initiative for another three-month period.

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