EGYPT: New Customs Tariff Introduced to Reduce Imported Input Prices
30 June 2022
Egypt’s Ministry of Finance has approved a new tax regime including lower duties on over 150 types of imported production inputs, entering into force on 9 June 2022. Goods benefitting from reduced tariffs include production inputs and capital goods for factories; agricultural machinery and equipment; and medicines and medical supplies.
Import duties on equipment for agricultural crops, straw, fodder, and sorting fruits and eggs have dropped from 5% to 2%. Raw materials like manganese, iron, aluminium, copper and lead ores are now subject to 5% tariff instead of 10%, while cement industry inputs will enjoy 0% to 5% rates compared to the previous 10%. Tariffs for coal have also been lowered to 2% from 5%, while fertilizer and seed duties have reduced to 2% from 5%. Imported vehicles and parts will be subject to a 2% tariff instead of the current 5% to 40% range; natural gas-powered cars will be subject to a 2% tariff from 30%, and duties on equipment for tractors, ships, aircraft and railways are now 2%.
- Medical Supplies & Medicine
- Raw Materials
- Middle East