A decree granting some facilities to Egyptians living abroad was signed by Egyptian President Abdel Fattah El-Sisi.
The benefits include the right to import a single private vehicle for personal use that is exempt from taxes and fees in exchange for paying a cash amount in foreign currency that is not redeemable, equal to 100% of the value of all taxes and fees that he had to pay to release the vehicle. This amount is recouped five years after the date of payment of the same value in the local currency in exchange for the foreign currency paid at the time of purchase.
The Supreme Council of the Automobile Industry and the Environmental Automobile Industry Fund were established by decree approved by the Egyptian President.
The Council, headed by the Prime Minister, the membership of the Minister of Industry, forms a vice -president of the Council, the membership of the ministers concerned with planning, transport and finance, and the Minister of the State for Military Production, and four experienced people nominated by the Minister of Industry, for a period of 4 years, renewable for one time.
The Council wants to see further growth in Egypt’s auto industry.
The auto financing fund creates environmentally friendly, which is the vehicles that do not result in emissions or negative effects on the environment, and the fund aims to develop the resources needed to finance the auto -friendly auto industry.
Author: Al-Watan.
Egypt. Al-Sisi makes a decision regarding Egyptians’ automobiles.
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