21 October 2018 09:59 AM

Presidential decree on new customs tariffs, establishment of supreme council for customs tariffs

Wednesday، 12 September 2018 - 11:35 AM
Presidential decree on new customs tariffs, establishment of supreme council for customs tariffs

President Abdel Fattah El Sisi issued a decree on Wednesday 12/9/2018 on the new customs tariffs and establishment of a supreme council for customs tariffs.

Under the decree, customs duty represents 20 percent of the value or imports tax - whatever is lesser - of equipment and machines imported by hotels and tourist facilities, except private cars.

Under the decree, customs duty represents 2 percent of the value or imports tax - whatever is lesser - of materials imported by formula factories.

Under the decree, the ministry of finance will chair the council and the premier will name a number of ministers to be members of the council.

The council will be in charge of proposing needed amendments to customs tariffs and developing customs system in view of economic changes. 

The decree was published in the gazette.

MENA






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