Allowing those who received payment orders from the Egyptians Abroad Vehicles Initiative to complete the bank transfer within a month

Dr. Mohamed Maait, Minister of Finance, confirmed that the Cabinet agreed to allow the 84,000 recipients of payment orders in the initiative to “facilitate the import of cars of Egyptians abroad” to complete the bank transfer procedure from abroad within a month, and pay the value of the prescribed deposit, in order to obtain import approval. And completing the rest of the necessary procedures to import their cars, pointing to the start of procedures for recovering the customs tax differences for those who paid it by 100% before reducing it by 70% through a bank account in dollars in Egypt or in the country of residence, according to the customer’s choice.

The minister indicated that the validity of the “import approval” for shipping and importing cars extends to 5 years, and that the reduced customs tax is valid throughout the period of validity of the “import approval”, and the first owner has the right to import the car without being bound by the year of manufacture, and others must not exceed 3 years at the time customs release.

Al-Shahat Ghaturi, head of the Customs Authority, referred to the Ministry of Finance’s commitment to paying the deposits of Egyptians abroad who benefited from the initiative to facilitate the import of cars, on the dates set at the exchange rate at the time of their due. As an “obligation of the public treasury”, and whoever wants to withdraw the transferred amounts from his account, in favor of the Ministry of Finance, and exit from the initiative after a year has passed from the date of import approval, he applies on the electronic platform, and he will obtain it at the exchange rate at the time of recovery within 3 months, pointing out that There is a “deed of maturity” from the Ministry of Finance, on the public treasury for citizens residing abroad, with the value of the amounts transferred to the account of the Ministry of Finance at the National Bank of Egypt.

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