MEMPHIS REISEN

25k vehicles released from ports to Egyptian expats under tax-free import initiative: Finance Minister – Dailynewsegypt

Finance Minister Mohamed Maait has announced the release of 25,000 imported cars for Egyptians living abroad. This initiative aims to streamline the import process for citizens, ensuring that the government’s commitment to facilitate these procedures is met and direct communication with potential importers is maintained. Notably, multiple individuals from a single family may participate if they fulfill the initiative’s criteria.

In a Saturday statement, Maait revealed that with the nearing completion of this initiative, 250,000 import approvals have been granted, each valid for five years. During this period, beneficiaries may select and replace cars at their discretion.

Maait further explained that the deposit, equating to a reduced customs tax for cars imported under this initiative, will remain valid for the entire duration of the import approval. The initial owner has the privilege of importing a car regardless of its manufacturing year, while subsequent owners are restricted to cars not exceeding three years from the date of customs clearance.

The Minister emphasized that these facilitations also extend to imports from Egypt’s free zones, following identical procedures to those for imports from overseas. The electronic platform permits the selection of a free zone within Egypt as the destination, with the car’s value transferred in foreign currency to the seller’s account abroad. He assured that deposits from Egyptians benefiting from this initiative would be processed on predetermined dates, adhering to the exchange rate at the time of payment, as guaranteed by the public treasury.

Shihab Ghatoor, head of the Customs Authority, stated that to date, 470,000 citizens abroad have registered for the initiative via the electronic application. Participants have created digital accounts, submitted necessary data, uploaded documents, and received notifications regarding fees. He highlighted the availability of an international hotline (15460) for prompt assistance with inquiries, complemented by a dedicated committee at ports operating 24/7, even on holidays, to hasten customs clearance.

The Ministry of Finance has established a task force within the General Administration for Citizen Services to collaborate with customs experts in removing any barriers and streamlining processes for Egyptians abroad. Beneficiaries can direct their inquiries to the mobile and WhatsApp number 01142335222, where immediate measures are coordinated with the pertinent authorities.