FinMin scraps Customs Act, plans to send it back to public discussion

LEGISLATION WATCH- FinMin scraps proposed Customs Act amendments: Finance Minister Mohamed Maait has scrapped a set of proposed amendments to the Customs Act and will put it back up for public discussion in 1Q2019, Federation of Chambers of Commerce (FEDCOC) Head Ahmed El Wakeel told Al Mal. The proposed amendments — which included provisions to expedite the clearance of goods through customs, create a whitelist of importers and expand the Customs Authority’s powers — were widely criticized by both FEDCOC (that acronym…) and the Federation of Egyptian Industries.