{"id":557009,"date":"2021-09-02T04:02:46","date_gmt":"2021-09-02T04:02:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/another-landmark-in-the-tax-overhaul-finmin-issues-official-customs-act-exec-regs\/"},"modified":"2021-09-02T04:02:46","modified_gmt":"2021-09-02T04:02:46","slug":"another-landmark-in-the-tax-overhaul-finmin-issues-official-customs-act-exec-regs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/another-landmark-in-the-tax-overhaul-finmin-issues-official-customs-act-exec-regs\/","title":{"rendered":"Another landmark in the tax overhaul: FinMin issues official Customs Act exec regs"},"content":{"rendered":"

<\/a> The final executive regulations of the Customs Act <\/strong><\/sup>have been issued<\/strong> by the Finance Ministry and were published (pdf)<\/a> in the Official Gazette on Tuesday. The exec regs\u2019 arrival marks the latest landmark in implementing the recently-approved Customs Act, which came into effect<\/a> late last year and aims to expedite customs clearance.<\/p>\n

What do they say?<\/strong> The new regs lay out how Nafeza<\/a>, the Customs Authority\u2019s new Advance Cargo Information (ACI) pre-registration system, will work. They also outline instructions for businesses importing goods at ports on accessing and using the platform to file and pay all types of shipping dues, as well as filing shipping documents and cargo data digitally ahead of arrival. Elsewhere, the regs set down customs tax breaks for tourists and Egyptians coming from abroad.<\/p>\n

The new system hasn\u2019t been without controversy: <\/strong>The government tweaked the exec regs twice<\/a>, in November and then in February, in response to complaints from exporters, shipping agencies and customs brokers after the Customs Act came into force. The business community hasn\u2019t been an enthusiastic adopter of Nafeza so far either, with importers and exporters repeatedly<\/a> lobbying<\/a>for extensions to its implementation deadline. Nafeza goes online<\/a> on 1 October \u2014 a deadline by which anyone who has not signed up for it will not be allowed to clear imported goods out of customs at seaports, Minister Mohamed Maait said during a roundtable last week.<\/p>\n

Lost in transit?<\/strong> Learn more about the Customs Act here<\/a>and Nafeza here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The final executive regulations of the Customs Act have been issued by the Finance Ministry and were published (pdf) in the Official Gazette on Tuesday. The exec regs\u2019 arrival marks the latest landmark in implementing the recently-approved Customs Act, which came into effect late last year and aims to expedite customs clearance. What do they […]<\/p>\n","protected":false},"author":1,"featured_media":557010,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[3414,72,276,187,277,871,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557009","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-customs-act","tag-enterpriseam","tag-finance-ministry","tag-legislation-watch","tag-mohamed-maait","tag-regulation-watch","tag-tax","wpautop","entry"],"acf":{"mongo_id":"aba6cc73-59a2-4e54-8aca-a6d612db1737","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/33.jpg","photo_position":"above","related_issue":[556993],"teaser":"","voice_url":""},"yoast_head":"\nAnother landmark in the tax overhaul: FinMin issues official Customs Act exec regs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/02\/another-landmark-in-the-tax-overhaul-finmin-issues-official-customs-act-exec-regs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another landmark in the tax overhaul: FinMin issues official Customs Act exec regs\" \/>\n<meta property=\"og:description\" content=\"The final executive regulations of the Customs Act have been issued by the Finance Ministry and were published (pdf) in the Official Gazette on Tuesday. 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The increased costs include the deposit required for the release of goods, the royalties paid to the\u2026","rel":"","context":"In "Legislation + Policy"","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":561010,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/22\/finmin-issues-new-customs-act-regs\/","url_meta":{"origin":557009,"position":1},"title":"FinMin issues new Customs Act regs","author":"enterpriseam admin","date":"22 March 2021","format":false,"excerpt":"Companies importing capital goods they need to grow \u2014 including heavy equipment and machinery \u2014 could get a breather under upcoming changes to the Customs Act\u2019s executive regulations(pdf), the draft of which the Finance Ministry has completed ahead of their being put up for public consultations. The regs would allow\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562493,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/26\/customs-act-regs-are-up-for-discussion-again\/","url_meta":{"origin":557009,"position":2},"title":"Customs Act regs are up for discussion again","author":"enterpriseam admin","date":"26 May 2021","format":false,"excerpt":"The business community has one week to give feedback on the latest version of the Customs Act\u2019s executive regulations (pdf), after the Finance Ministry incorporated suggested amendments and requests from the latest round of public consultations last month, Al Masry Al Youm reports. Under the proposed regulations, importers would be\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558381,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/08\/inching-closer-to-a-new-customs-system\/","url_meta":{"origin":557009,"position":3},"title":"Inching closer to a new customs system","author":"enterpriseam admin","date":"8 August 2021","format":false,"excerpt":"The final draft of the exec regs of the Customs Act\u2019s is now in the hands of the State Council (Maglis El Dawla) for review and approval after they were redrafted to incorporate proposed amendments and requests from the last round of public consultations in April, Minister Mohamed Maait said\u2026","rel":"","context":"In "REGULATION WATCH"","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/113.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594643,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/naguib-is-waiting-on-the-mineral-resources-acts-exec-regs-before-deciding-on-gold-investments-in-egypt\/","url_meta":{"origin":557009,"position":4},"title":"Naguib is waiting on the Mineral Resources Act\u2019s exec regs before deciding on gold investments in Egypt","author":"enterpriseam admin","date":"3 September 2019","format":false,"excerpt":"Naguib is waiting on Mineral Resources Act exec regs before deciding on gold investments in Egypt: The executive regulations to the newly-ratified Mineral Resources Act will determine whether or not Naguib Sawiris will invest in Egypt\u2019s gold and copper mining industry, he tells Al Arabiya TV (watch, runtime: 3:44). The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/2388.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576490,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/25\/shippers-customs-brokers-win-minor-customs-act-concessions\/","url_meta":{"origin":557009,"position":5},"title":"Shippers, customs brokers win minor Customs Act concessions","author":"enterpriseam admin","date":"25 November 2020","format":false,"excerpt":"LEGISLATION WATCH- Shipping agencies and customs brokers have won minor concessions from the Finance Ministry after challenging some elements of the recently-ratified Customs Act, Enterprise has learned. Brokers had complained about the strict new insurance requirements in the legislation, which force large companies to deposit EGP 100k and small companies\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/276.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=557009"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/557009\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/556993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/557010"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=557009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=557009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=557009"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=557009"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=557009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}