Egypt’s Cabinet approves draft bill allowing expats to import tax-free private cars for 4 months



Thu, 13 Oct 2022 - 01:02 GMT


Thu, 13 Oct 2022 - 01:02 GMT

Imported cars at Sheerness Docks - Geograph UK

Imported cars at Sheerness Docks - Geograph UK

CAIRO – 13 October 2022: The Egyptian Cabinet approved on Wednesday a draft law on granting expats the right to import private cars without paying fees or customs taxes.

However, the exemption will last only for four months after the law is published in the Official Gazette, according to the Cabinet.

Instead of paying customs taxes, expats will send the money to the Finance Ministry as a foreign currency deposit for five years.

After the five-year-term ends, expats will be given back the money with local currency, the Egyptian pound, with today’s price.

Egyptian expats under the law should have valid residence permits abroad, bank accounts that are not less than three months old, and must not less than 16 years old.

Government Spokesman Nader Saad said in televised remarks that the deposit will be put in Egyptian banks and that first hand cars have to be manufactured in 2022.

Second hand cars, on the other hand, have to be three years old or less, Saad said.

The government will launch a website to allow expats to register for importing their cars from abroad to Egypt, the spokesman added.

The Egyptian Cabinet also approved on Wednesday a new draft bill on legalizing multiple cases of building violations that do not abuse structural integrity standards.

The new law widens the scope for the state’s reconciliation with citizens responsible for building violations, including the possibility to reconcile with buildings that exceed the height specified by the Civil Aviation Authority.

The new law, set to be discussed by the Parliament shortly, also allows reconciliation on buildings constructed illegally on the state-owned lands.

However, the law bans reconciliation over building on areas of land that are included under the antiquities and Nile River protection laws except in some conditional cases after the approval of the Cabinet.



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