2023-10-16 20:00:00
11:00 PM Monday, October 16, 2023
Importing cars
Books – Sameh Sayed:
In its plenary session, on Monday, the House of Representatives approved a draft law amending some facilitations for Egyptians abroad.
The draft law amending some facilitations for Egyptians abroad, which was approved by the House of Representatives today by extending the period by 3 months, includes the same facilitations in the expired car initiative law, meaning that any Egyptian residing abroad has the right to bring a car, whether personally or for any member of his family older than 16. year.
The new law stipulates that an Egyptian who has a valid legal residence abroad and has not previously obtained the facilities stipulated in Law No. 161 of 2022 and its amendments regarding granting some facilities to Egyptians abroad may benefit from its provisions if he fulfills all the conditions stipulated in the aforementioned law, and in accordance with the provisions. The rules and procedures contained therein and the decisions implementing it, provided that the cash amount due is paid in foreign currency in accordance with Article (1) of Law No. 161 of 2022 and its amendments within 3 months from the effective date of this law.
The draft law stipulates that an Egyptian who has a valid legal residence abroad and has not previously obtained the facilitations contained in Law No. 161 of 2022 regarding granting some facilitations to Egyptians abroad may benefit from its provisions as long as he fulfills all the conditions stipulated in the aforementioned law, and in accordance with the provisions, rules and procedures. contained therein and the decisions implementing it, provided that the cash amount due is paid in foreign currency in accordance with Article (1) of the law within 3 months from the effective date of this law.
The first article of Law No. 161 of 2022 stipulates that “as an exception to the rules and provisions regulating taxes and fees due on the import of passenger cars for personal use, and the provisions of customs exemptions established in accordance with the Customs Law promulgated by Law No. 207 of 2020, and the import controls established in the same regard, the Egyptian who… He has a valid legal residence abroad. Imports one private passenger car for his personal use, exempt from the taxes and fees that had to be paid to release the car, including value-added tax and schedule tax, in accordance with the rules and provisions stipulated in this law in exchange for paying a cash amount in foreign currency. A return is due, transferred from abroad in favor of the Ministry of Finance to one of the bank accounts determined by the decision stipulated in Article (8) of this law at a rate of (100%) of the value of all taxes and fees that had to be paid to release the car, including the value-added tax. The schedule tax, with the exception of customs tax, is reduced in its payment rate so that the value is payable (30%), and this amount is recovered on the day following the end of a period of five years from the date of payment with the same value in the local exchange rate of the foreign currency in which it was paid, and at the exchange rate announced by the Central Bank at the time of recovery.
Cars that are imported from someone other than the first owner in accordance with the provisions of this law are required to be no more than three years old at the time of customs release from the year of manufacture.
The representatives appreciated the law submitted by the Ministry of State for Immigration and Affairs of Egyptians Abroad, to serve and meet the desires of Egyptians abroad. A number of representatives also suggested that the duration of the law be for 6 months and that it be extended for a similar period, not 3 months, so that a large number of Egyptians abroad can benefit from the initiative.
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