New customs law simplifies procedures, reduces goods' cost: Min


Sat, 19 Oct 2019 - 01:45 GMT

FILE - Finance Ministry

FILE - Finance Ministry

CAIRO - 19 October 2019: New draft of customs law currently under discussion in the House of Representatives contributes to improving Egypt's ranking in three important international indicators: «Global Competitiveness, Doing Business and the Macroeconomic Environment», Ministry of Finance confirmed Thursday.

It clarified that the new draft aims to simplify procedures, reduce the cost of goods, and reduce the time of customs release, through the optimal use of modern technology and the localization of international experiences in the application of the «single window» system, and the gradual transition from paper-based to digital environment.

"For the first time, an electronic system for tracking goods will be established to follow their steps until the final release stage. With the possibility of pre-querying customs duties prior to the arrival of the goods, allowing the exchange of secured information and data electronically between the Customs Authority and the authorities of the State or third parties with which it has concluded agreements, and the introduction of a risk management system; In accordance with established controls; in order to simplify the procedures and speed of customs release," it noted.

it added that the new draft customs law targets to encourage the national industry, reduce the cost of domestic production and maximize its competitiveness in the international markets.

The new draft customs law aims to encourage national industry, reduce the cost of domestic production and maximize its competitiveness in world markets, the statement added." It includes the advantage of installment of the customs tax due on machinery, equipment, devices, production lines and accessories that do not enjoy any exemptions or reductions in tariffs when they are engaged in production, against the payment of an additional tax calculated as a percentage of the value of the unpaid customs tax for each month or part of it."

The statement pointed out that the draft law includes new facilities for dealers with customs, including: the development of a new system for the settlement of customs disputes, allowing grievance to the administration before resorting to arbitration; in order to prevent the aggravation of disputes between the owners of goods and the Customs Authority, and establish consensual solutions to many problems through a joint committee Include both parties to the conflict.

It explained that the new draft law exempts the import of government and university hospitals, equipment, medical supplies, medicines, blood products, serums, family planning methods and dairy children from customs duties; in order to fulfill the constitutional obligations to provide health care to citizens.

The statement said that the draft law included the principle of non-prejudice to exemptions decided by other laws in force to prevent duplication, such as the Sports Law and the Rights of Persons with Disabilities Act, and other laws that establish customs exemptions.



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