This is in line with the government’s efforts to expand the use of electric vehicles, with Egypt as a promising market for the transportation industry
Customs taxes for used passenger cars are going to be calculated with new facilities particularly those that operate with an electric motor or with dual motors "electricity, gasoline," said Finance Minister Mohamed Maait.
This is in line with the government’s efforts to expand the use of electric vehicles, with Egypt as a promising market for the transportation industry.
The minister said that the decision included granting used passenger cars that operate with an electric motor or dual motors a 10- percent discount from the Free On Board (FOB) value, provided that the import rules are met, which are received in Egypt from the first of October of the model year until End of September of the following year.
It also includes conditions for used passenger cars that operate with an electric motor or with dual motors in terms of importing, a deduction of 10 percent of the FOB for each year of the following two years starting from the month of October of each year, and a 5 percent discount is granted for each of the following years starting from October of each year, and in all cases the discount rates do not exceed 50 percent.
He pointed out that this comes in light of the state’s tendency to strive to rely on clean cars to preserve the environment and save energy, especially since electric cars can travel a long distance with minimal energy consumption.