The draft law on exempting cars for Egyptians abroad from customs, specifying the conditions that must be met by the Egyptian who wishes to benefit from the provisions of this law if it is approved. And customs, after it was referred to a joint committee of the Plan and Budget Committee, the offices of the committees for economic affairs, constitutional and legislative affairs, and foreign relations. The draft law includes exempting Egyptians’ cars abroad from taxes and customs.
The draft law specifies in its second article “2” the conditions that must be met by an Egyptian who wishes to benefit from the provisions of this law once it is approved, and the cash amount stipulated in Article 1 of this law must be paid, as follows:
1- To have a valid legal residence outside the country.
2- He must be at least 16 full Gregorian years old.
3- He must have a bank account abroad that has been opened for at least three months.
NB:
An exception from this condition is the spouse of an Egyptian residing abroad and his children, if the remaining conditions stipulated in this article are fulfilled in their regard.
It is noteworthy that Article 1 of the draft law stipulates: an exception to the rules and provisions regulating taxes and fees due on the import of passenger cars for personal use, the provisions for 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 as follows:
1- An Egyptian who has a valid residence abroad has the right to import one private passenger car for his personal use, exempt from 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.
2- In return for paying a cash amount in foreign currency, for which no interest is due, transferred from abroad in favor of the Ministry of Finance to one of the bank accounts specified 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 for the release of The car, including value-added tax and schedule tax, is refunded after five years from the date of payment with the same value, in the local exchange for the foreign currency paid in it, and at the exchange rate announced at the time of redemption.