The bill on the exemption from customs of Egyptian cars, which specifies in the fourth article “4” the data that must be registered to obtain the authorization to import to obtain the exempted car if the law is approved, and it is the bill presented by the government, regarding the granting of certain concessions to Egyptians residing abroad, including exemption from taxes and customs for the cars of Egyptians abroad, after it was referred to a joint committee of the Plan commission and Budget and to the offices of the commissions for economic affairs, constitutional and legislative affairs and foreign relations The bill provides for the exemption of the cars of Egyptians abroad from taxes and customs.
The bill specifies in its fourth article “4” the following:
1- Registration of the data of the Egyptian who wishes to benefit from the provisions of this law.
2- The vehicle data to be imported.
3- He will have to pay the cash amount provided for in article (1) of this law.
Note: In return, an import approval is granted that demonstrates complete payment and vehicle details, and this approval is valid to complete the import procedures and release the imported vehicle for one calendar year from the date of its issue, all in the manner established by the decision referred to in article (8) of this law.
Consequences of not completing the import within the aforementioned deadline:
In the event that the import is not completed within the period referred to in the first paragraph of this article, the cash amount previously paid is immediately recovered, with the same value in local foreign currency paid in it and at the announced exchange rate. at the time of redemption, without return.
While article three “3” specifies the conditions of a car imported by a person other than the first owner, in accordance with the provisions of this law:
1- Its age, on the date of its entry into force, must not exceed three years from the year of manufacture.
It is interesting to note that the bill specified in its second article “2” the conditions that must be met by an Egyptian wishing to benefit from the provisions of that law if it is approved, in the payment of the cash amount provided for in article 1 of this law, as follows:
1- Have a valid legal residence outside the country.
2- Must be at least 16 full Gregorian years old.
3- Must have a foreign bank account that has been open for at least three months.
An exception to this condition is the husband of an Egyptian living abroad and his children, whenever available The rest of the conditions set out in this article.
It is worth noting that Article 1 of the bill provides: an exception to the rules and provisions governing taxes and duties due to the importation of passenger cars for personal use, provisions for customs exemptions established under the Customs Law promulgated by law 207 of 2020, and the import controls established in this regard are the following:
The Egyptian who has a valid residence abroad has the right to import a private car for personal use, exempt from taxes and charges that had to be paid for the release of the car, including value added tax and service tax, in accordance with the rules and provisions of this law. Against the payment of a cash amount in foreign currency, for which no interest is due, transferred from abroad to the Ministry of Finance on one of the bank accounts determined by the decision referred to in Article (8) of this law , at a rate equal to 100% of the value of all taxes and contributions that had to be paid for the release of the car, including value added tax and service tax, and is refunded after five years from the date of payment of equal amount, in the local exchange rate of the foreign currency in which it was paid and at the exchange rate announced at the time of repayment.
