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Egypt zero-customs car import initiative to generate $2 billion

Egypt's zero-customs car import initiative is projected to generate $2 billion, based on the high demand witnessed in the first and second phases.
30.01.24 | Source: Ahram Online

To accommodate the overwhelming interest observed in the previous two phases, Maait added that the initiative has been extended for three more months for Egyptians residing abroad.

"This extension aims to broaden the scope of beneficiaries and cater to the increasing demand among Egyptians living abroad," he highlighted.

On Sunday, the cabinet approved the extension, which will span an additional three months starting from 29 January.

Maait emphasized that the reduced customs and taxes will remain in effect for a period of five years following the import approval, allowing Egyptians living abroad to replace their vehicles at any time during this extended timeframe.

He said the initiative permits multiple individuals within a family to benefit from its advantages, as long as they meet the specified criteria.

El-Shahat Ghatouri, head of the Egyptian Customs Authority (ETA), announced the establishment of an international hotline number (15460) to receive inquiries from Egyptians residing overseas.

Launched in October 2022, the initiative enables expats to bring one personal-use vehicle to Egypt without incurring customs duties or taxes, including the value-added tax.

Following its initial success, the cabinet approved a relaunch of the initiative in October 2023 for a three-month period, concluding on 30 January 2024.