LEGISLATION WATCH- The State Council (Maglis El Dawla) has completed its review of proposed amendments to the Customs Act and shipped it back to the Ismail Cabinet on Monday, according to judiciary sources. The draft law, which had received the Ismail Cabinet’s sign off in February, is expected to slash custom duties on capital goods to 2% from a current 5% and expand temporary exemptions for production inputs and packaging equipment. The law also includes provisions that aim to curb illegal trade activities and evasions of custom tariffs. The law is one of several which the Council had reviewed. Cabinet will now have to review the bill and pass it on to the House of Representatives for committee-level debate.

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