Minister of Finance Mohamed Maait said Tuesday that the tax-free car import initiative for Egyptian expats, which was recently approved by the Cabinet, has come into force.
Some amendments have been made to the initiative. Maait said that the initially required deposit has been cancelled, and it would be enough to submit a six-month bank statement preceding the date of transfer. Other documents, such as residency documents, are no longer needed.
Al-Shahat Ghaturi, head of the Customs Authority, said that customs clearance fees should not exceed EGP 3,000.
An electronic platform was launched for the process. It allows users to choose one of the free zones inside Egypt as an import destination.
He added that a control room was formed and includes car customs managers at various customs outlets to guarantee a speedy customs clearance.