{"id":572893,"date":"2020-07-13T04:24:17","date_gmt":"2020-07-13T04:24:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/finmin-exempts-imported-steel-products-from-10-development-fee\/"},"modified":"2020-07-13T04:24:17","modified_gmt":"2020-07-13T04:24:17","slug":"finmin-exempts-imported-steel-products-from-10-development-fee","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/13\/finmin-exempts-imported-steel-products-from-10-development-fee\/","title":{"rendered":"FinMin exempts imported steel products from 10% development fee"},"content":{"rendered":"

FinMin exempts imported steel products from new development fees:<\/strong> Imported finished steel products will be exempted from newly-imposed development fee after the Finance Ministry yesterday approved a request from the Federation of Egyptian Industries\u2019 (FEI) taxes and customs committee, Al Masry Al Youm<\/a> reports. The FEI had been lobbying against the introduction of the 10% fee, arguing that it would increase pressure on domestic industry and hurt its competitiveness.<\/p>\n

Background: <\/strong>The House Planning and Budgeting Committee approved in May<\/a> a series of new \u201cdevelopment fees\u201d on a wide range of products from mobile phones, concerts, sporting team contracts and even pet food. The levy was proposed by the Finance Ministry as a way to help it plug the widening fiscal deficit caused by the covid-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"

FinMin exempts imported steel products from new development fees: Imported finished steel products will be exempted from newly-imposed development fee after the Finance Ministry yesterday approved a request from the Federation of Egyptian Industries\u2019 (FEI) taxes and customs committee, Al Masry Al Youm reports. The FEI had been lobbying against the introduction of the 10% […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[107,5508,5370,72,916,276,4688,5509,5507,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572893","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-covid-19","tag-customs-fees","tag-development-fees","tag-enterpriseam","tag-federation-of-egyptian-industries","tag-finance-ministry","tag-house-planning-and-budgeting-committee","tag-imported-finished-steel-products","tag-mohamed-el-bahei","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6a5aeca2-2100-44cd-bbc1-09ddff00a184","is_powered_by":true,"section_story_id":"a9ca4595-65d7-4dd9-80f7-225ca87d2630","story_type":"1","photo_url":"","photo_position":"above","related_issue":[572879],"teaser":"","voice_url":""},"yoast_head":"\nFinMin exempts imported steel products from 10% development fee - 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\/2020\/07\/13\/finmin-exempts-imported-steel-products-from-10-development-fee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin exempts imported steel products from 10% development fee\" \/>\n<meta property=\"og:description\" content=\"FinMin exempts imported steel products from new development fees: Imported finished steel products will be exempted from newly-imposed development fee after the Finance Ministry yesterday approved a request from the Federation of Egyptian Industries\u2019 (FEI) taxes and customs committee, Al Masry Al Youm reports. 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A senior government official tells us the trade and finance ministries are studying a proposal that would impose a 10-20% \u201cdevelopment fee\u201d on all car sales \u2014 but then offset these for locally assembled or manufactured vehicles, which would be eligible for discounts\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\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600097,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/federation-of-egyptian-industries-reviewing-final-draft-of-customs-act\/","url_meta":{"origin":572893,"position":4},"title":"Federation of Egyptian Industries reviewing final draft of Customs Act","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"LEGISLATION WATCH- Final draft of amended Customs Act now with industry group for review: The Federation of Egyptian Industries (FEI) is reviewing the final version of proposed amendments to the Customs Act, Mohamed El-Bahy, head of the federation\u2019s taxes and customs committee, told Youm7. 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