Sunday May 26th, 2024
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Zero Customs Import Initiative for Expats Relaunched in Egypt

The initiative contributed nearly USD 900 million to the state, which fell short of the original goal of USD 2.5 billion.

Cairo Scene

Zero Customs Import Initiative for Expats Relaunched in Egypt

The Egyptian Cabinet has put forth a draft law to extend the zero-customs car import initiative for expatriates for an additional three months.

Initially launched under temporary legislation in the autumn of 2022, the zero-customs car import initiative allowed expats to bring in one personal-use vehicle to Egypt without incurring customs duties or taxes. The initiative remained in effect until May 2023, contributing nearly USD 900 million to the state coffers. However, this fell short of the original target of USD 2.5 billion.

In an effort to sustain the positive economic impact of the initiative, the proposed draft law grants the Cabinet the authority to extend the temporary legislation for an additional three months, subject to approval by the House of Representatives.

The extension of the zero-customs car import initiative holds significant implications for both expatriates and the Egyptian economy. By continuing to incentivise vehicle imports, the initiative aims to bolster revenue generation and stimulate economic activity. Expatriates, in turn, benefit from the opportunity to bring personal vehicles to Egypt without the burden of customs fees, enhancing mobility and convenience during their time in the country.

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