From Egypt: Egypt Removes Customs Tariffs on Cars in 2019

Source: Marina Iskander, Andersen Tax & Legal in Egypt, a member firm of Andersen Global

Due to international obligations, Egypt is due to remove all customs on EU-imported vehicles. Sticker prices of cars imported from the EU are due to drop by 10-15%, given that the USD exchange rate for customs remains stable at its current level. However, cars imported from Europe will still be subject to value added tax depending on their category. While Egypt must comply with its international obligations and treaties, this must be balanced with a need to maintain Egypt’s own economy, especially at a time of economic hardship. This in turn may mean that even if customs are removed, it would be beneficial for the Egyptian economy to recover this money through imposing other fees.

Please click here to read more.