Egypt denies imposing tax on cars
Egypt has denied social media reports that it has imposed a 30 per cent development tax on imported and local cars.
The Egyptian Customs Authority on Septmeber 2, 2019 said that report was completely untrue.
Egypt’s customs authorities in January began applying the last tranche of tariff reductions on cars from the European Union and Turkey, in accordance with the Egyptian-European Partnership Agreement to reach customs zero value.
Cars became subject to other types of duties, namely VAT of 14 percent, 0.5 per cent industrial and commercial profit tax, three per cent resources development fee, and one per cent table tax for a total of 18.5 per cent.
The President of the Automobile Dealers Association, Osama Abul-Magd, said in January that most dealers raised car prices twice during December without any justification.
He stated that cars with an engine capacity of less than 1600 cubic centimeters (CC) of European or Turkish origin are not subject to any customs duties since 2016.
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