Egypt’s customs authorities on Tuesday 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. 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. As for cars with a capacity exceeding 1600 CC, the value of the customs exemption is between LE5,000 to LE10,000. Abul-Magd said that some Korean and Japanese cars produced in factories in the European Union countries will be subject to customs exemption. Korean and Japanese cars are subject to 40 percent fees for 1600 CC cars, and 125 percent for those more than 2000 CC.

Source: Egypt Independent January 01, 2019 10:07 UTC