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New committee formed to speed up customs clearance for COP27 items | FinMin

A simplified procedural guide has been issued in both Arabic and English on customs procedures for imports under a temporary release system

By: Business Today Egypt

Mon, Sep. 26, 2022

Finance Minister Mohamed Maait announced the formation of a new committee dedicated to facilitating customs clearance and value-added tax (VAT) returns for participants of the upcoming COP27 summit.

According to an official statement, the committee will be composed of Egyptian Tax Authority and Customs Authority leaders, and will coordinate closely with officials of the Ministry of Environment and the Ministry of Foreign Affairs.

The committee will facilitate the entry of any imported goods or equipment slated for COP27 use; these include items accompanying foreign correspondents who will provide media coverage, and items accompanying the delegations participating in COP27.

A simplified procedural guide will be issued in both Arabic and English on customs procedures for imports under a temporary release system, as well as VAT returns for international visitors leaving the country.

Chairing the committee will be Head of Customs and VAT Affairs Department Mohamed Soliman Qura. Members include Ahmed Hussein, general manager at Sharm El Sheikh Customs; Ramy Mohamed Diab, general manager of imports - Air Imports and Exports Customs; Amr Mohamed Anwar El-Khouly, general manager of Public Relations at Cairo International Airport; Nadi Ali Abdel Latif, advisor to the Head of the Egyptian Tax Authority; and Salah Eldin Mahmoud, general manager of special exemptions researches.

Aside from this, the government has been introducing new regulations to facilitate the import clearance process as Egypt deals with a large backlog of imports and rising prices. Last week, the Central Bank of Egypt announced new instructions to facilitate imports, including accepting cash deposits in foreign currencies.