{"id":603135,"date":"2019-04-16T03:54:20","date_gmt":"2019-04-16T03:54:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/"},"modified":"2019-04-16T03:54:20","modified_gmt":"2019-04-16T03:54:20","slug":"government-finishes-draft-car-manufacturing-customs-tax-incentives-program","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/","title":{"rendered":"Government finishes draft car manufacturing customs tax incentives program"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a><b> EXCLUSIVE- It looks like the government\u2019s strategy for the automotive sector could soon see the light of day:<\/b> The finance and trade ministries are finishing work their (not-the-automotive-directive) incentive program to encourage automotive manufacturing in Egypt, a senior government official told us. The program will grant customs discounts for auto manufacturers based on the percentage of domestic content in the vehicles they produce. According to our source, the customs breaks look like this:<\/p>\n<ul>\n<li>Assemblers will get a 10% break on their customs bill;<\/li>\n<li>Those sourcing 20-30% of their components locally will receive a 30% customs break;<\/li>\n<li>Manufacturers sourcing 31-40% of their components locally will get a 44% break;<\/li>\n<li>Manufacturers sourcing 41-50% of their components locally will receive a 50% break;<\/li>\n<li>Manufacturers sourcing 60% or more of their components locally will get an 80% break.<\/li>\n<\/ul>\n<p><b>Auto players that begin manufacturing cars locally will be eligible for an additional 110% tax cut<\/b>, provided they also invest in the manufacturing of auto components.<\/p>\n<p><b>The incentives will cost the government up to EGP 2 bn per year<\/b> but will boost economic growth and job creation, the source said. The finance and trade ministries are also reportedly looking to change customs duties on cars (but will leave the 45% VAT unchanged).<\/p>\n<p><b>What\u2019s next? <\/b>Cabinet will review the package of incentives and possible tax changes before it putting it out for public consultations.<\/p>\n<p><b>Background:<\/b> We<a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/30\/govt-plans-to-scrap-automotive-directive-and-will-replace-it-with-special-zones\/\">reported last summer<\/a> that the government was scrapping the so-called automotive directive in favor of a more limited policy, which <a href=\"https:\/\/enterprise.press\/stories\/2018\/12\/03\/trade-minister-downplays-automotive-directive-says-talks-are-ongoing-with-unnamed-global-car-manufacturers-on-egypt-investments\/\">Trade and Industry Minister Amr Nassar<\/a> all but confirmed with later statements. The directive had been in the works for over four years due to wrangling in the House of Representatives and opposition from auto importers. The package of incentives was designed to allow local manufacturers, who industry backers argue support tens of thousands of skilled direct and indirect jobs, to better compete with EU, Moroccan and Turkish imports that receive customs breaks here in Egypt. That strategy was sharply opposed by our EU trade partners \u2014 particularly Germany, whose chancellor, Angela Merkel is said to have addressed the issue directly at the highest levels of government in Egypt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- It looks like the government\u2019s strategy for the automotive sector could soon see the light of day: The finance and trade ministries are finishing work their (not-the-automotive-directive) incentive program to encourage automotive manufacturing in Egypt, a senior government official told us. The program will grant customs discounts for auto manufacturers based on the percentage [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603136,"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":[144,72,7196,131,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-automotive","tag-enterpriseam","tag-industry","tag-manufacturing","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"0f1b9d0d-bcf8-4f4e-9905-6f865fcabe0b","is_powered_by":true,"section_story_id":"582c782c-1160-4b8d-86ae-c886dc2e3ac8","story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/31.jpg","photo_position":"above","related_issue":[603129],"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>Government finishes draft car manufacturing customs tax incentives program - 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\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government finishes draft car manufacturing customs tax incentives program\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- It looks like the government\u2019s strategy for the automotive sector could soon see the light of day: The finance and trade ministries are finishing work their (not-the-automotive-directive) incentive program to encourage automotive manufacturing in Egypt, a senior government official told us. The program will grant customs discounts for auto manufacturers based on the percentage [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-16T03:54:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/31.jpg?fit=%2C&ssl=1\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Government finishes draft car manufacturing customs tax incentives program\",\"datePublished\":\"2019-04-16T03:54:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/\"},\"wordCount\":358,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/31.jpg?fit=%2C&ssl=1\",\"keywords\":[\"automotive\",\"EnterpriseAM\",\"industry\",\"Manufacturing\",\"SPEED ROUND\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/16\/government-finishes-draft-car-manufacturing-customs-tax-incentives-program\/\",\"name\":\"Government finishes draft car manufacturing customs tax incentives program - 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The program\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597542,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/30\/cabinet-approves-final-customs-package-for-car-makers\/","url_meta":{"origin":603135,"position":1},"title":"Cabinet approves final customs package for car makers","author":"enterpriseam admin","date":"30 July 2019","format":false,"excerpt":"EXCLUSIVE- Cabinet approves final amendments on auto manufacturing incentives package: The Madbouly Cabinet has approved final amendments to the Customs Act that will provide customs discounts to car manufacturers in return for increasing their use of local components, two government officials told Enterprise. The updated amendments split customs breaks into\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":599046,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/17\/egypt-to-provide-large-custom-discounts-to-power-its-domestic-car-industry\/","url_meta":{"origin":603135,"position":2},"title":"Egypt to provide large custom discounts to power its domestic car industry","author":"enterpriseam admin","date":"17 June 2019","format":false,"excerpt":"EXCLUSIVE- We\u2019re going to be discussing a new set of incentives for the automotive industry this fall. The finance and trade ministries are drafting new incentives to spur domestic manufacturing and assembly that will include large custom discounts on automotive components that peak at nearly 100%, two government sources told\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594641,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/will-egypts-auto-manufacturers-incentives-strategy-see-the-light-of-day-soon\/","url_meta":{"origin":603135,"position":3},"title":"Will Egypt\u2019s auto manufacturers incentives strategy see the light of day soon?","author":"enterpriseam admin","date":"3 September 2019","format":false,"excerpt":"Will the auto manufacturers incentives strategy see the light of day soon? The Madbouly Cabinet\u2019s economic group reviewed yesterday a proposed package of incentives for automotive manufacturers to spur domestic manufacturing and assembly, according to a Cabinet statement. Prime Minister Moustafa Madbouly ordered the finance and trade and industry ministries\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/381.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591613,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/11\/is-egypts-auto-manufacturing-incentives-package-coming-out-of-hibernation-soon\/","url_meta":{"origin":603135,"position":4},"title":"Is Egypt\u2019s auto manufacturing incentives package coming out of hibernation soon?","author":"enterpriseam admin","date":"11 December 2019","format":false,"excerpt":"LEGISLATION WATCH- Is the auto manufacturing incentives package finally going to emerge from months of hibernation? Proposed amendments to the Customs Act that will provide customs discounts to car manufacturers in return for increasing their use of local components will be sent to the House of Representatives \u201csoon\u201d for review\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":594689,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/car-manufacturers-say-floating-customs-exchange-rate-adds-more-burdens-on-the-industry\/","url_meta":{"origin":603135,"position":5},"title":"Car manufacturers say floating customs exchange rate adds more burdens on the industry","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"Floating customs exchange rate adds to car manufacturers\u2019 concerns: The government\u2019s recent move to float the customs exchange rate presents additional obstacles for local car assemblers and could lead to more price increases in an already troubled market, Egyptian Automobile Manufacturers Association (EAMA) spokesman Khaled Saad told Al Mal. No\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603135","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=603135"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603135\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603129"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603136"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603135"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603135"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}