Minister of Finance Mohamed Maait said on Tuesday that the application for the tax-free car import initiative for Egyptians working abroad will close after 26 days, adding that there is no intention to further extend the operation. Maait added that 100,000 Egyptians residing abroad have registered electronically to benefit from this initiative. Maait also announced the release of 800 imported cars from ports under the initiative and the total value of payments reached about $500m. Maait said that the government is committed to paying the deposits of Egyptians abroad who benefit from the initiative to facilitate the import of cars, on the scheduled dates, at the exchange rate at the time it becomes due. They will obtain it at the exchange rate at the time of recovery within three months.
