{"id":579682,"date":"2022-11-14T13:42:11","date_gmt":"2022-11-14T13:42:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/"},"modified":"2022-11-14T13:42:11","modified_gmt":"2022-11-14T13:42:11","slug":"this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/","title":{"rendered":"THIS EVENING: Cabinet issues rules and regs for expat car import scheme + Climate X is happening at the GEM"},"content":{"rendered":"<p><strong>Good afternoon, wonderful people.<\/strong> We have a relatively calm day on the local news front, after COP27 took a mandatory day off yesterday.<\/p>\n<p><strong>THE BIG STORY TODAY<\/strong><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Cabinet is out with the rules and regulations for the <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5cadb00-f078-4c70-8667-8d5fc50ad151\">expat car import scheme<\/a><\/strong><strong>:<\/strong> The cabinet <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02N48HPa64YiNxEtEQjnPJsSXgKrpQkFrt3FXDLxLzHtNb6n292Y8KvhqwGodvSRbKl\">has published<\/a> a detailed list of the rules, regulations and criteria for Egyptian expats looking to import new cars and get a rebate in exchange for upfront FX. The criteria details the taxes and fees that expats must pay \u2014 customs fees, VAT, schedule tax, and development fees \u2014 and where to pay them. The rules also clarify that expats need only carry a residency permit abroad or a non-Egyptian passport to become eligible, though they must have a valid bank account in the country of residence that has been open for at least three months.<\/p>\n<p class='web-image' ><a href='https:\/\/climatexforum.enterprise.press\/'><img data-recalc-dims=\"1\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Venue-reveal-1600-Eng.jpg?ssl=1\" alt='enterprise'><\/a><\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a><strong> Our <\/strong><strong><a href=\"https:\/\/climatexforum.enterprise.press\/index.html\">Enterprise Climate X Forum<\/a><\/strong><strong> is happening at the brand new Grand <\/strong><strong>Egyptian Museum:<\/strong> We\u2019re happy to announce that the Enterprise Climate X Forum is taking place at the Grand Egyptian Museum on Tuesday, 6 December 2022. We can think of no better place to discuss the world\u2019s most important industry than in a world-class museum that stands as a testament to our nation\u2019s ability to persevere (and innovate) for seven millennia.<\/p>\n<p><strong>What\u2019s the Enterprise Climate X Forum? <\/strong>It\u2019s our first industry-specific conference, where CEOs, top execs, investors, bankers and development finance folks have the chance to talk about how to build a climate-centered business \u2014 and how to make sure your business continues to have access to the funds it needs to grow. <a href=\"https:\/\/climatexforum.enterprise.press\/index.html\">You can learn more on our conference website here.<\/a><\/p>\n<p><strong>Some of the biggest names in business and finance are on board \u2014 are you? <\/strong>If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at <a href=\"mailto:climatexrsvp@enterprisemea.com\">climatexrsvp@enterprisemea.com<\/a> to signal your interest, letting us know your name, title and where you work.<\/p>\n<p><strong>Who\u2019s on board?<\/strong> The Enterprise Climate X Forum is taking place with the generous support of our friends, including:<\/p>\n<ul>\n<li>Banking partners: <strong>HSBC<\/strong> | <strong>Mashreq<\/strong> | <strong>Attijariwafa Bank<\/strong><\/li>\n<li>Telecom partner: <strong>Etisalat by e&<\/strong><\/li>\n<li>Event partners: <strong>Hassan Allam Utilities<\/strong> | <strong>Infinity<\/strong><\/li>\n<\/ul>\n<hr class=\"grey-line\">\n<p><strong>THE BIG STORY ABROAD<\/strong><\/p>\n<p><strong>US President Joe Biden and Chinese President Xi Jinping\u2019s meeting in Bali is leading the<\/strong><strong> conversation<\/strong> in the international business press this afternoon. The two heads of state signaled their intention to reset \u2014 or at least improve \u2014 relations between Washington and Beijing, with Xi saying, \u201cwe need to find the right direction for the bilateral relationship going forward and elevate the relationship.\u201d The story is on the front pages of <a href=\"https:\/\/www.reuters.com\/world\/ahead-tense-g20-summit-biden-xi-meet-talks-2022-11-14\/\">Reuters<\/a>, <a href=\"https:\/\/www.cnbc.com\/2022\/11\/14\/biden-and-xi-meet-in-person-for-the-first-time.html\">CNBC<\/a>, the <a href=\"https:\/\/www.wsj.com\/articles\/biden-xi-meet-as-countries-move-toward-reopening-communication-11668420685?mod=hp_lead_pos2\">Wall Street Journal<\/a>, the <a href=\"https:\/\/www.ft.com\/content\/c94ff50c-b3cf-4f94-a76a-c521d7c9063c\">Financial Times<\/a>, and <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-14\/biden-looks-to-set-guardrails-on-us-china-ties-in-xi-meeting?srnd=premium-middle-east\">Bloomberg<\/a>.<\/p>\n<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>ALSO- Amazon\u2019s Jeff Bezos plans to give away the majority of his USD 124 bn wealth<\/strong><strong> during his life<\/strong>, the bulk of which he plans to donate to fighting climate change and addressing \u201csocial and political divisions,\u201d Bezos and his partner Lauren S\u00e1nchez told <a href=\"https:\/\/edition.cnn.com\/2022\/11\/14\/business\/jeff-bezos-charity\/index.html\">CNN<\/a> in an exclusive interview.<\/p>\n<hr class=\"grey-line\">\n<p><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong>The Madbouly government\u2019s state ownership policy document could go into effect at the end of this year<\/strong>, Vice Minister of Finance Ahmed Kouchouk <a href=\"https:\/\/enterprise.press\/#tldr-story-05\">told the Senate<\/a> yesterday.<\/li>\n<li><strong>Final contracts for the 10 GW Masdar-Infinity-Hassan Allam wind farm announced last week at COP27 <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9e57ab8-1858-47df-b73a-6c5e6a18b868\">could be signed<\/a><\/strong><strong> before the end of the year<\/strong>, according to Hesham El Gamal, general manager at Infinity.<\/li>\n<li><strong>EIB could invest in water projects in Egypt:<\/strong> The European Investment Bank (EIB) <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f937b85f-53c2-4742-ab81-a431b6347423\">plans to commit<\/a> USD 1.5 bn in new financing to Egypt, primarily focusing on water treatment, said the bank\u2019s VP, Gelsomina Vigliotti.<\/li>\n<\/ul>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>      <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p><strong>? CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p><strong>PSA #2- If you\u2019re self-employed, you have to register in the Tax Authority\u2019s e-invoice <\/strong><strong>system by 15 December.<\/strong> This includes self-employed doctors, engineers, lawyers, and artists, the Egyptian Tax Authority said in a<a href=\"https:\/\/www.facebook.com\/tax.egypt\/posts\/pfbid02xZQ6g3mVt8xBY53zbkaNSQLfuDKW7Ee28TZcyKJtrM8w2ATZS6X56S74UQLqdcJBl?__cft__[0]=AZXVBg27tCmAV6V8UTaKct5D9vUtObmHwGpKIRGlr_-bKwdpAvQwJFc_KhX1j74zzW6NZAZZbwstHUM0k2vJpG9RgPAcIjCSkTtkqaNOHbKxXLu4gbAO4F9m9Y5M_P1Ko2yzMmlzqI8BYcK02CDLCl-MfitRXBcoAva7fQicniNi_SrH6qVkgG3IqTi7so9I8w8&__tn__=%2CO%2CP-R\">statement<\/a>. Only e-invoices will be considered for VAT deduction or refunds as of 1 April, 2023.<\/p>\n<p><strong>What e-invoicing system?<\/strong> In late 2020, the Tax Authority launched a pilot program for B2B e-invoicing with 134 companies, before expanding the system to all large taxpayers in July 2021. All B2B and B2C invoices across the country should be fully automated by December. We have a primer on the system, its purpose, the timeline of implementation along with a list of phase one companies <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99a6ca73-945a-43a8-9bb3-70e01e484a6c\">here<\/a>.<\/p>\n<p><strong>PSA #3- Good news for Upper Egypt startups:<\/strong> Applications for a Uplift4UpperEgypt \u2014 startup program run by Orascom\u2019s <a href=\"https:\/\/geminiafrica.com\/\">Gemini Enterprises Africa<\/a>, in partnership with the Sawiris Foundation, aimed at businesses in Upper Egypt, will open on 17 November, according to <a href=\"https:\/\/bit.ly\/3Ghr7lV\">Al Mal<\/a>.<\/p>\n<p><strong><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\">Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n<p>\u2600\ufe0f <strong>TOMORROW\u2019S WEATHER- <\/strong>Expect a daytime high of 24\u00b0C tomorrow and a nighttime low of 14\u00b0C, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people. We have a relatively calm day on the local news front, after COP27 took a mandatory day off yesterday. THE BIG STORY TODAY Cabinet is out with the rules and regulations for the expat car import scheme: The cabinet has published a detailed list of the rules, regulations and criteria for [&hellip;]<\/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":[7213],"tags":[144,633,6382,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579682","post","type-post","status-publish","format-standard","hentry","category-what-were-tracking-tonight","tag-automotive","tag-enterprisepm","tag-expat-car-import-scheme","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"10ba8fcd-8bdd-46df-af1d-1c57617ebf2a","order":"0","is_powered_by":true,"story_type":"4","photo_url":"","photo_position":"above","related_issue":[579680],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: Cabinet issues rules and regs for expat car import scheme + Climate X is happening at the GEM - 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\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Cabinet issues rules and regs for expat car import scheme + Climate X is happening at the GEM\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people. 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We have a relatively calm day on the local news front, after COP27 took a mandatory day off yesterday. THE BIG STORY TODAY Cabinet is out with the rules and regulations for the expat car import scheme: The cabinet has published a detailed list of the rules, regulations and criteria for [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2022-11-14T13:42:11+00:00","og_image":[{"url":"https:\/\/ent.news\/2022\/11\/Venue-reveal-1600-Eng.jpg","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"THIS EVENING: Cabinet issues rules and regs for expat car import scheme + Climate X is happening at the GEM","datePublished":"2022-11-14T13:42:11+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/"},"wordCount":845,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/#primaryimage"},"thumbnailUrl":"https:\/\/ent.news\/2022\/11\/Venue-reveal-1600-Eng.jpg","keywords":["automotive","EnterprisePM","expat car import scheme","WHAT WE\u2019RE TRACKING TONIGHT"],"articleSection":["WHAT WE\u2019RE TRACKING TONIGHT"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/","url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/this-evening-cabinet-issues-rules-and-regs-for-expat-car-import-scheme-climate-x-is-happening-at-the-gem\/","name":"THIS EVENING: Cabinet issues rules and regs for expat car import scheme + Climate X is happening at the GEM - 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The rules\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/234.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":606450,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/17\/the-expat-car-import-scheme-is-making-a-comeback\/","url_meta":{"origin":579682,"position":1},"title":"The expat car import scheme is making a comeback","author":"enterpriseam admin","date":"17 September 2023","format":false,"excerpt":"Egyptian expats get another three months to import cars in exchange for FX deposits","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/9\/1013.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550163,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/expat-car-import-scheme-could-raise-egp-50-bn-worth-of-fx-maait\/","url_meta":{"origin":579682,"position":2},"title":"Expat car import scheme could raise EGP 50 bn worth of FX -Maait","author":"enterpriseam admin","date":"17 October 2022","format":false,"excerpt":"A scheme to allow expat Egyptians to import cars into Egypt and draw back customs and other fees at a later date could raise USD 2.5 bn in FX: Expats could send some EGP 50 bn (c. USD 2.5 bn) into Egypt under a cabinet program that will allow Egyptians\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/242.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581987,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/28\/mps-give-initial-approval-to-extending-expat-car-import-scheme-for-2-months\/","url_meta":{"origin":579682,"position":3},"title":"MPs give initial approval to extending expat car import scheme for 2 months","author":"enterpriseam admin","date":"28 February 2023","format":false,"excerpt":"House gives initial nod to expat car import scheme extension: MPs have given preliminary approval to a proposal to extend the government\u2019s expat car import scheme by two months amid low participation. The program was set to expire in mid-March but will now end on 12 May if the amendments\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/parliament-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550471,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/expat-car-for-fx-scheme-signed-into-law-bye-bye-l-cs\/","url_meta":{"origin":579682,"position":4},"title":"Expat car-for-FX scheme signed into law + Bye bye, L\/Cs","author":"enterpriseam admin","date":"30 October 2022","format":false,"excerpt":"The expat car import scheme is on its way: President Abdel Fattah El Sisi has signed into law a bill that will allow Egyptian expats to import cars and get customs and tax exemptions after paying upfront in FX, according to a decision published in the Official Gazette.Refresher- Under the\u2026","rel":"","context":"In &quot;Automotive&quot;","block_context":{"text":"Automotive","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/automotive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/371.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581544,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/15\/expat-car-for-fx-scheme-likely-to-be-extended-again-amid-low-turnout\/","url_meta":{"origin":579682,"position":5},"title":"Expat car-for-FX scheme likely to be extended again amid low turnout","author":"enterpriseam admin","date":"15 February 2023","format":false,"excerpt":"The scheme allows expats to bring cars into Egypt","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579682","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=579682"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579682\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/579680"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=579682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=579682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=579682"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=579682"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=579682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}