Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Customs Authority: Significant Tariffs Reduction on Vehicles, Pharmaceutics, and TV


Sun 16 Sep 2018 | 12:07 PM
Taarek Refaat

CAIRO, Sept 16 (SEE)- Kamal Najm, Head of the Customs Authority announced on Sunday the reduction of customs tariffs on some types of automotive vehicles, pharmaceutical products, and television screens.

He added that the customs duties on natural gas vehicles were reduced by 35 percent instead of 25 percent, while private electricity-powered vehicles were exempted from customs duties.

"These decisions are aimed at attracting investment, reducing unemployment, supporting domestic product and preserving the environment," Najm said.

Last week, President Abdel Fattah al-Sisi issued a national decree to amend the tariff on imported goods to encourage local industries and export sector.

The decision also includes customs duties of 2% of the value on imported factories licensed to produce infant formula, similar to mother's milk.