The effects of the government’s acceptance of the exemption of foreign-owned vehicles from taxes, fees, and customs are still being felt.
Social media has been active with comments on the subject in recent hours, and many people have noticed this choice.
Others emphasised the economic benefit and need of the move, particularly in light of Finance Minister Mohamed Moait’s discussion of the decision’s terms.
The official said during a phone call to the “Story” program, on the MBC Egypt screen, that the government is open to the project, but it looks forward in relation to the step.
The opportunity, he continued, is available for a period of four months, and all the facilities will make sure that the car enters customs and then promptly exits after the transfer.
He emphasised that selling vehicles is not prohibited and that anyone may do so at any time, provided that the state raises the 5-year ban that customs has set while allowing owners to sell.
The Minister stated that a dollar certificate was issued by the Central Bank at a higher interest rate than what was offered on the Egyptian market.
This happened after the Egyptian government allowed the exclusion of foreign-registered vehicles from taxes, fees, and customs upon their entry into the nation.
Ambassador Saha Juna, Minister of Immigration and Egyptian Affairs Abroad, revealed that the law requires the car to be for personal use and a year model if it is the first owner, and by a maximum of 2020 for those who are not the first buyer, confirming that there are no restrictions on the type or value of the car or a ban on selling it in Egypt after its arrival.
She added that if a family of six people lived together, they had the right to land six exempt cars, but only once, and that this privilege applied to all family members who were living abroad, had legal residence permits, and were older than 16 years old.
The Egyptian Cabinet has already approved the law, as it was sent to the House of Representatives for approval, provided that the executive regulations are placed for it so that the Ministry of Finance prepares lists with the details of the car and the type of deposit that must be sent to the bank in exchange for the car to drop the country.
While the Ministry of Communications develops a website where citizens can register their information and any car information they choose to obtain.
A wise move, the rule exempting Egyptian vehicles from importation abroad stokes dialogue
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