Find out the final terms of the draft law on importing cars for Egyptians abroad

The seventh day presents the final conditions announced by the Ministry of Finance to benefit from the draft law on importing cars for Egyptian expatriates residing abroad, as soon as it is approved by the House of Representatives, which are as follows:

1- There must be a bank account in the country in which the expatriate resides, and it has been opened, with the balance to be transferred at least 3 months before the date of the issuance of the car import law for Egyptian expatriates.

2- The vehicle to be imported into Egypt must be from the same country in which the expatriate resides; In order to benefit from the advantages and facilities included in this law for Egyptians residing abroad, by exempting their cars from taxes and customs upon entering Egypt.

3- An Egyptian who has a valid residence abroad has the right to import one private passenger car for his personal use, exempt from taxes and fees that had to be paid to release the car, including value-added tax and schedule tax, in accordance with the rules and provisions stipulated in this The law, in return for the payment of a cash amount in foreign currency, for which no return is due, is transferred from abroad in favor of the Ministry of Finance to one of the bank accounts specified by the decision stipulated in Article (8) of this law, at a rate of 100% of the value of all taxes and fees, which had to be paid For the release of the vehicle, including VAT and schedule tax.

4- The draft law stipulates that the cash amount transferred in favor of the Ministry of Finance shall be recovered after five years from the date of payment, with the same value in the local exchange rate of the foreign currency in which it was paid at the exchange rate announced at the time of redemption.

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