Egypt reduces customs taxes on mobile phone components to 2%
The Egyptian Parliament approved Tuesday the presidential decree no.67 for 2023, which concerns modifying the presidential decree no.218 for 2022.
The new decree aims to reduce customs taxes on imported components used for local mobile phones production, such as headphones, batteries and cameras, to only 2 percent, down from (5 – 30) percent.
The decree will be applied on all mobile production components following the conditions released by Minister of Finance, Mohamed Maait.
Previously, Head of the Egyptian Customs Authority, Al-Shahat Al-Ghatouri, revealed that the decree comes in light of the discussions between the Egyptian cabinet and manufacturing companies, which suggested lifting taxes to encourage local production.
“Three global companies are ready to start immediate manufacturing following the lift on taxes” he added.