Egypt’s President ratifies amendments to custom tax law

Egyptian President Abdel Fattah El Sisi ratifies amendments to custom tax law no. 419 for 2018, which  determines the value of custom taxes on imported equipment required for vehicle charging stations and natural gas fueling stations.

According to article no. 1 of the law, two percent of the value or the import duty of these equipment, which is less. The law also includes components used to convert vehicles to work with electricity only or natural gas, environment monitoring equipment as well as renewable energy equipment.

Article no. 2 of the law, stipulates that in case the percentage of local manufacturing reaches 10 percent or more, the imported foreign parts are subject to the import tax class prescribed on the final and fully-manufactured product.