The draft law on exempting Egyptians’ cars from customs from customs, specifying in its fourth article “4” the data that must be registered to obtain the import approval to obtain the exempted car if the law is passed, and it is the draft law submitted by the government, regarding granting some facilities to Egyptians residing abroad, which includes Exempting the cars of Egyptians abroad from taxes and customs, after it was referred to a joint committee of the Plan and Budget Committee, and the offices of the committees for economic affairs, constitutional and legislative affairs, and foreign relations. The draft law includes exempting the cars of Egyptians abroad from taxes and customs.
The draft law specifies in its fourth article “4” the following:
1- Registration of the data of the Egyptian who wishes to benefit from the provisions of this law.
2- The data of the vehicle to be imported.
3- He shall pay the cash amount stipulated in Article (1) of this Law.
Note: In return, an import approval is granted that proves full payment and vehicle data, and this approval is valid to complete the import procedures and release the imported vehicle for a calendar year from the date of its issuance, all in the manner determined by the decision stipulated in Article (8) of this law.
Consequences of failure to complete the import within the aforementioned period:
In the event that the importation is not completed within the period referred to in the first paragraph of this Article, the previously paid cash amount shall be recovered immediately, with the same value in the local foreign currency paid in it and at the exchange rate announced at the time of redemption, without return.
While Article Three “3” specifies the condition of a car that is imported from someone other than the first owner, in accordance with the provisions of this law:
1- Its age, on the date of its enforcement, should not exceed three years from the year of manufacture.
It is noteworthy that the draft law specified in its second article “2” the conditions that must be met by an Egyptian who wishes to benefit from the provisions of this law if it is approved, in paying the cash amount stipulated in Article 1 of this law, 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.
An exception from this condition is the husband of an Egyptian residing abroad and his children, whenever they are available The rest of the conditions stipulated in this article.
It is worth noting 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:
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. 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 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 value-added tax and schedule tax, and it is refunded after 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 at the time of redemption.