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Amendments are in line with Egypt’s international obligations to the WTO, and prove the government’s monetary policy bias towards national industry
While experts agree that the government’s decision to increase customs duties on 364 types of imported products will not greatly affect the rate of inflation, their views differ when it comes to the timing and how this move will actually affect the state and its citizens. Abou Bakr Emam, the head of Prime Bank’s research …
Companies that rely on imported materials have been struggling under increased production costs
The Central Bank of Egypt (CBE) sets the US dollar price for customs tariffs on a daily basis at 3pm, based on the average exchange rates at banks, according to the head of the Central Administration of Customs at the Egyptian Customs Authority Mahmoud Issa.
Customs charges on imported cars increased by 66% on Friday following the flotation of the Egyptian pound. This decision was made on Thursday when customs recorded a 52% increase calculated according to the price of the US dollar against the Egyptian pound in the free market, which will be reviewed on a daily basis. The …
This protocol for electronic information exchange reduces the time needed for clearance, which in turn will cut down costs
China has logged worse-than-expected trade figures for July, with both exports and imports falling sharply. The world’s second-largest economy is feeling the pinch of lackluster domestic demand and mounting debt.
Chinese imports and exports in dollar terms dropped sharply in June as the country’s currency depreciated against the US currency. Falling commodities prices and weakening domestic demand also played a role.
Introduction of a new system to receive information beforehand on all imported goods
Imports of wheat, corn, cars, palm oil have decreased, but imports of some products like iron have increased significantly
The Egyptian government requested an evaluation from the fund
In an interview with Daily News Egypt, Nour Suliman, Chief Executive Officer of DHL Express Middle East and North Africa,focused on the future plan of DHL in Egypt, and the challenges it has to overcome to realize the growth targeted in 2016. What does your company predict for the investment atmosphere of the Egyptian …
These branches will remain open until 5pm in the period from 27 to 31 March and from 24 to 28 April
A source with a German automotive manufacturer claims the company has remained subject to tariffs that were set to be reduced at the start of 2016
The price of the dollar on the parallel market has neared the EGP 9 mark, while it remains at EGP 7.83 in banks
Decision prevents local factories from controlling prices after raising customs, says state official
The law will include an additional tax to offset the decline of customs revenues on imported cars under the European Union, Turkey, and Agadir free trade agreements.
Daily News Egypt reported that the Customs Authority would be exempting cars of European-origin with capacities of 1,300 CC or less from customs in compliance with the EU-Egypt Association Agreement, according to a source at the Ministry of Finance
An official at the Ministry of Finance told Daily News Egypt that custom exemptions on European cars with a capacity of 1,300 CC or less will reach 100% in the upcoming days under table four of the agreement, which came into force in 2008.
Last week CBE issued $1bn as part of bank’s plan to flood the market with a total of $4bn to meet the requests for foreign currency in import contracts
Regulations currently being unified at all ports
Egyptian Customs Authority estimated total customs due on Kia Carens 2016, 1600cc, at approximately EGP 79,000.
Law includes postponement of custom tax payment for one month in return for letter of guarantee to authority
EGP 200m allocated for Port Said’s development in FY 2015/2016
Lack of democracy, political will as well as lack of vision were main reasons why ACM agreement became just ink on paper, says former assistant to IMF’s executive director
Dimian said the current law clashes with articles of the Kyoto Protocol, which aimed to facilitate customs procedures.
The United Bank will introduce in all branches a service for paying all government dues, such as individual and company taxes and customs, the bank’s chairman Mohamed Ashmawy revealed Thursday. The move comes in cooperation with the Ministry of Finance. Ashmawy stressed the significance of enhancing electronic payments in Egypt, instead of depending on traditional …
The decision led to the postponement of many purchasing decisions until the new prices are implemented.
By Mohamed Ayyad Prime Minister Ibrahim Mehleb responded to the requests of the Port Said traders to calculate customs on the basis of the bill that determines the actual value of the goods received. A 40% discount was also granted under Customs Decision No. 21 for containers in the customs area that have no bills …
Legislation to regulate customs transactions and control all ports to eliminate smuggling and prevent entry for non-compliant goods