International Courant
The Egyptian Customs Authority has resumed making use of the customs class set within the customs tariff on gold jewellery imported by Egyptian expatriates per inspection, value-added tax and each day gold worth, in keeping with the Assay and Weights Administration.
The pinnacle of the customs authority Al-Shahat Ghatouri advised Al-Masry Al-Youm: “We returned to the best way it was earlier than the exemption determination, as a result of it expired on Could 10.”
He added that the private gold jewelery introduced with passengers might be taken under consideration and exempted.
The pinnacle of the customs authority denied studies that the authority is imposing LE371 (equal to about eight {dollars}) on each gram of gold carried on passengers arriving from overseas.
Egypt already agreed in Could 2023 to exempt imports of gold in semi-finished merchandise meant for financial circulation, jewellery and elements of treasured metals from customs taxes and different duties, with a view to management markets and preserve worth stability and steadiness. to get better.
Egypt’s cupboard in November authorized the extension of the zero-custom initiative for gold imports by Egyptians overseas by six months, till the top of Could 2024.
Edited translation of Al-Masry Al-Youm
Egyptian customs imposes tariffs on gold from expats
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