Finance Ministry publishes simplified guide for COP27-related customs procedures

The guide was published and linked to the official website of the Climate Conference, the website of the Ministry of Finance, and other relevant authorities

By: Business Today Egypt

Tue, Oct. 18, 2022

The Ministry of Finance has officially published its simplified guide to customs procedures and value-added tax refunds for items related to the upcoming COP27 conference next month.

It provides information on import customs procedures under the temporary release system, procedures for goods received for display and return fees, and procedures for refunding value-added tax for foreign departures.

The guide was published and linked to the official website of the Climate Conference, the website of the Ministry of Finance, and other relevant authorities.

The guide, published within the framework of ongoing preparations ahead of the conference contains the easing of custom procedures including excluding goods shipped at all customs ports contained in the framework of the Climate Conference from registration in the Advanced Cargo Information “ACI” system, and excluding goods arriving at Sharm El-Sheikh International Airport from registration in the “window” system, in addition to the simplified procedures for the temporary release of cameras, equipment and photographic equipment belonging to foreign journalists and correspondents.

The Finance Ministry’s statement added that delegates participating in the climate conference will benefit from tax and customs exemptions and benefits, pointing to the necessity of disclosing the foreign exchange, negotiable securities or commercial papers, or any things whose value exceeds the permissible limit upon arrival, with the exception of things intended for personal use.

Foreigners will be able to carry the remainder of the amounts that were disclosed when they arrived during departure, with the obligation not to bring prohibited items according to the law.

In September, the minister decided to form a committee, whose job it will be to ease customs clearance and value-added tax return to participants in the upcoming climate summit, which will be held in the Egyptian Red Sea resort city of Sharm el Sheikh in November.