Mohamed Maait, Minister of Finance confirmed on Saturday that the customs administration system is witnessing a historic development revolution under the leadership of President Abdel Fattah Al-Sisi.
Maait added the the political leadership is adopting a national project to modernize and automate the customs system through the optimal employment of advanced technology and the localization of distinguished international experiences in implementing the single-window system, and the gradual transition from a paper-based work environment to digital.
The minister explained that it is intended to complete the operation of the single-window system in the country's biggest ports before the end of June; In a way that would contribute to simplifying procedures, reducing the cost of goods, and customs clearance times, improving Egypt's ranking in 3 important international indicators: Global competitiveness, doing business, and the macroeconomic environment.
The minister said, following President Sisi's ratification of the new customs law, that an electronic system will be established for the first time to track goods until the final release stage, using modern e-commerce system, with the possibility of pre-clearance and payment of customs duties before the goods arrival, allowing the exchange of information and secured data electronically between the Customs Authority and state agencies or foreign parties.
He added that the new law includes new facilities for those dealing with customs, including a new system for settling customs disputes that allows grievances to the administration before resorting to arbitration, the introduction of a temporary customs warehouse system inside the ports and through which customs services are provided on the imported and exported goods.
He pointed out that the new law aims to encourage national industry, reduce the cost of local production and maximize its competitiveness in global markets.
"The new system will include the advantage of installments on customs tax due on machinery, equipment, devices, production lines that do not enjoy any exemptions or reductions in customs tariffs," he said, adding that installments can be submitted by paying an additional tax calculated as a percentage of the value of the unpaid customs tax for each month.
Maait explained that the new law includes exempting customs duties for hospitals' equipment, medical supplies, medicines, blood products, serums, family planning methods, and baby milk in fulfillment of the constitutional obligations to provide health care to citizens.
"The new law includes the principle of not prejudice to the exemptions established by other laws in effect to prevent duplication, such as the sports Law, the rights of persons with disabilities Law, and other laws that establish customs exemptions," the minister concluded.
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