Egypt’s Finance Minister Mohamed Maait met with Al-Shahat Ghatouri, the head of the Customs Authority, to discuss the progress of the initiative that aims to make it easier for Egyptians living abroad to import tax-free cars. The initiative was extended for three more months, and the online application started receiving requests on Monday.
Maait instructed to expedite the process of issuing import permits for this purpose.
He also emphasized the need to communicate effectively with the Egyptians abroad who want to benefit from the initiative and to answer their questions and inquiries promptly. He said that the international hotline 15460 is a useful tool that allows specialists to provide clear and helpful answers and guidance for any challenges that Egyptians abroad may face.
He explained that the reduced customs fees are valid for five years from the date of the import permit. Moreover, Egyptians abroad can choose any car and change it at any time within five years. The year of manufacture of the car will be one of the main factors in determining the amount of money that needs to be transferred to the Ministry of Finance’s account at the National Bank of Egypt as a deposit.
Maait added that the deposits of Egyptians abroad who participate in the car import initiative are paid on the due dates at the exchange rate at that time.
He pointed out that those who want to withdraw their money from their account at the Ministry of Finance and exit the initiative after one year from the date of the import permit must submit a request on the online platform. They will receive their money at the exchange rate at the time of recovery within three months.
Maait also noted that there is a bond issued by the Ministry of Finance to the public treasury for Egyptians residing abroad in the amount of money transferred to the Ministry of Finance’s account at the National Bank of Egypt.
On his part, Al-Shahat Ghatouri said that the international hotline 15460 is ready to respond quickly to any inquiries from Egyptians abroad.
