{"id":576406,"date":"2020-11-23T03:38:09","date_gmt":"2020-11-23T03:38:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/"},"modified":"2020-11-23T03:38:09","modified_gmt":"2020-11-23T03:38:09","slug":"customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/","title":{"rendered":"Customs officials unlikely to reduce insurance requirement for Egypt\u2019s brokers"},"content":{"rendered":"

LEGISLATION WATCH- Brokers are unlikely to get a break on new higher <\/strong>insurance payments introduced under <\/strong>recently-ratified<\/a><\/strong> changes to the <\/strong>Customs Act<\/a><\/strong>, but the government could consider other incentives, Customs Authority official Shahat El Ghatwary said<\/a>. The authority has already sent out instructions to officials to streamline the clearance process to enjoy the benefits of the improved law ahead of issuing improved executive regulations, Ghatwary said.<\/p>\n

Background: <\/strong>Customs brokers have been lobbying officials<\/a> to rethink the new insurance requirements, which require large companies to deposit EGP 100k and small companies EGP 50k to be allowed to operate. Brokers previously only needed to deposit as little as EGP 5k. The new law will allow smaller companies to pay the insurance in installments, Ghatwary said.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Brokers are unlikely to get a break on new higher insurance payments introduced under recently-ratified changes to the Customs Act, but the government could consider other incentives, Customs Authority official Shahat El Ghatwary said. The authority has already sent out instructions to officials to streamline the clearance process to enjoy the benefits of […]<\/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":[3414,72,180,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576406","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-customs-act","tag-enterpriseam","tag-legislation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"73b5ad40-f526-48f5-b91b-73d6887731e1","is_powered_by":true,"section_story_id":"6a034151-6cf1-45e9-b04c-516afeba12ee","story_type":"1","photo_url":"","photo_position":"above","related_issue":[576391],"teaser":"","voice_url":""},"yoast_head":"\nCustoms officials unlikely to reduce insurance requirement for Egypt\u2019s brokers - 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\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Customs officials unlikely to reduce insurance requirement for Egypt\u2019s brokers\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Brokers are unlikely to get a break on new higher insurance payments introduced under recently-ratified changes to the Customs Act, but the government could consider other incentives, Customs Authority official Shahat El Ghatwary said. The authority has already sent out instructions to officials to streamline the clearance process to enjoy the benefits of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-23T03:38:09+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Customs officials unlikely to reduce insurance requirement for Egypt\u2019s brokers\",\"datePublished\":\"2020-11-23T03:38:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/\"},\"wordCount\":134,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Customs Act\",\"EnterpriseAM\",\"legislation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/11\/23\/customs-officials-unlikely-to-reduce-insurance-requirement-for-egypts-brokers\/\",\"name\":\"Customs officials unlikely to reduce insurance requirement for Egypt\u2019s brokers - 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