All you need to know about protection fees on iron billets, steel rebar
Egypt Today reviews the details of this decision:
-The minister of trade and industry issued decree no. 346 of 2019 imposing temporary protective measures on imports of steel rebar.
-The fees are 15 percent for billets and 25 percent for steel rebar in all its forms such as bars, rods, rolls or chopsticks, besides its semi-finished products as billets.
-Ministry of Trade and Industry directed the Customs Authority to implement the decree starting from April 15. 2019.
-The resolution will be imposed for 180 days (6 months).
-Article 1 of the minister's decision stipulates that imports of the steel rebar category are classified under the customs item (7214, 7213) of the tariff coordinated to draw temporary protective measures for 180 days at a rate of 25 percent of the value.
-The second article states that imports of semi-finished products of iron or non-alloy steel (billet), which are classified under the customs item 7207, shall be subject to the tariff for the temporary protective measures for a period of 180 days.
-The protection fee shall be calculated on the basis of the prices sent by the commercial processors sector to the Customs Authority at the end of each month.
-The fees shall be directed to the Export Development Fund (the Consolidated Treasury Account).
-The decision is imposed by 25 percent on rebar for building purposes only, and semi-finished products of iron or steel other than "billet" alloys.
CAIRO - 15 April 2019: Egypt's Ministry of Finance started Monday, April 15 collecting temporary protection fees on Egypt's imports of iron billets and steel rebar for 180 days. The ministry clarified that the fees are 15 percent for billets and 25 percent for steel rebar in all its forms such as bars, rods, rolls or chopsticks, besides its semi-finished products as billets.