{"id":621651,"date":"2018-11-14T04:31:39","date_gmt":"2018-11-14T04:31:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/"},"modified":"2018-11-14T04:31:39","modified_gmt":"2018-11-14T04:31:39","slug":"finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/","title":{"rendered":"FinMin, Trade Ministry looking to amend automotive tax framework as tariffs on European cars set to drop to zero"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>EXCLUSIVE- Last gasp of the automotive directive? <\/strong>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 or waivers of other fees and levies imposed by the state on each car sold and registered in Egypt.<\/p>\n<p><strong>The news comes as the domestic automotive assembly industry braces for the elimination of tariffs <\/strong>on cars imported from the European Union on 1 January 2019. The proposal now being developed could see cars subject to an industry development fee using a tiered system that accounts for engine size and the percentage of domestic content. The proposal would see locally assembled vehicles receiving certain \u201cincentives\u201d that imported vehicles would not be eligible for, the source said, without disclosing further details on what these incentives might entail.<\/p>\n<p><strong>Egypt will bring import duties on European cars to zero as planned<\/strong>, Trade and Industry Minister Amr Nassar told the House Economic Committee this week, according to <a href=\"https:\/\/www.almasryalyoum.com\/news\/details\/1342214\">Al Masry Al Youm<\/a>. The new industry development fee would not violate that agreement, our source claims, because it would apply to all vehicles.<\/p>\n<p><strong>Background:<\/strong> Government officials <a href=\"https:\/\/enterprise.press\/stories\/2018\/10\/24\/egypt-formally-requests-pushing-back-zero-tariffs-on-eu-car-imports\/\">had told us last month<\/a> that the Trade and Industry Ministry had made an official request to delay the customs repeal for another 1-2 years. However, EU Ambassador to Egypt Ivan Surkos <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/11\/has-the-eu-rejected-egypts-proposal-to-delay-delay-0-customs-duties-on-car-imports\/\">confirmed last week<\/a> that the agreement would come into effect as planned, without making clear whether the EU rejected Egypt\u2019s proposal or if the ministry simply decided to pull it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- Last gasp of the automotive directive? 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 or waivers of other fees [&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":[8572],"tags":[11051,144,357,309,72,7192,276,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621651","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-amr-nassar","tag-automotive","tag-automotive-directive","tag-customs","tag-enterpriseam","tag-eu","tag-finance-ministry","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"18a59c31-6b7d-469f-a3b6-b851e7c9c506","order":"0","is_powered_by":true,"section_story_id":"46fd496c-bc96-4779-b29b-7ea32597ee89","story_type":"1","photo_url":"","photo_position":"above","related_issue":[621638],"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>FinMin, Trade Ministry looking to amend automotive tax framework as tariffs on European cars set to drop to zero - 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\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin, Trade Ministry looking to amend automotive tax framework as tariffs on European cars set to drop to zero\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Last gasp of the automotive directive? 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 or waivers of other fees [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-11-14T04:31:39+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\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FinMin, Trade Ministry looking to amend automotive tax framework as tariffs on European cars set to drop to zero\",\"datePublished\":\"2018-11-14T04:31:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/\"},\"wordCount\":288,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Amr Nassar\",\"automotive\",\"Automotive Directive\",\"customs\",\"EnterpriseAM\",\"EU\",\"Finance Ministry\",\"SPEED ROUND\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/finmin-trade-ministry-looking-to-amend-automotive-tax-framework-as-tariffs-on-european-cars-set-to-drop-to-zero\/\",\"name\":\"FinMin, Trade Ministry looking to amend automotive tax framework as tariffs on European cars set to drop to zero - 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Egypt will cut tariffs on European cars to zero starting from January 1, 2019, under a trade agreement between Egypt and the European Union, EU Ambassador to Egypt Ivan Surkos reportedly said on Thursday, according to\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":621695,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/15\/finmin-trade-ministry-deny-plans-to-impose-new-10-20-tax-on-egypts-car-sales\/","url_meta":{"origin":621651,"position":1},"title":"FinMin, Trade Ministry deny plans to impose new 10-20% tax on Egypt\u2019s car sales","author":"enterpriseam admin","date":"15 November 2018","format":false,"excerpt":"FinMin, Trade Ministry deny plans to impose new 10-20% tax on car sales: Trade Ministry advisor Hossam Abdel Aziz deniedour report from Wednesday morning that the Finance and Trade ministries considering a plan that could impose a 10-20% \u201cdevelopment fee\u201d on all car sales. Trade Minister Amr Nassar also denied\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":624914,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/23\/tariffs-on-eu-cars-will-still-fall-to-zero-next-year-says-nassar\/","url_meta":{"origin":621651,"position":2},"title":"Tariffs on EU cars will still fall to zero next year, says Nassar","author":"enterpriseam admin","date":"23 September 2018","format":false,"excerpt":"**#3 EXCLUSIVE- Tariffs on EU cars will still fall to zero next year, says Nassar: Trade and Industry Minister Amr Nassar told Enterprise overnight that the government has no plan to put on hold a tariff cut on cars imported from the European Union. Automobiles imported from the EU will\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":595540,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/30\/govt-looking-to-impose-development-tax-on-cars\/","url_meta":{"origin":621651,"position":3},"title":"Gov\u2019t looking to impose development tax on cars","author":"enterpriseam admin","date":"30 September 2019","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t mulls industry-wide development tax for the automotive industry: The government is considering imposing a development tax on all imported and locally produced cars, two government sources told Enterprise. The idea of a sliding tax that varies with engine size is now being discussed by a ministerial committee tasked\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\/2019\/6\/1903.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592149,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/29\/egypts-automotive-incentives-package-could-soon-see-the-light-of-day\/","url_meta":{"origin":621651,"position":4},"title":"Egypt\u2019s automotive incentives package could soon see the light of day","author":"enterpriseam admin","date":"29 December 2019","format":false,"excerpt":"Trade Ministry finalizes method to calculate local content\u2019s added value under larger automotive strategy: Trade Ministry officials have finalized a new method to calculate the percentage of local content under a planned automotive industry strategy to encourage car manufacturers, Al Mal reported, citing an unnamed official. The proposed method should\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\/2019\/9\/2604.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":598214,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/finmin-trade-ministry-expand-egypts-automotive-incentives-strategy-to-cover-all-industries\/","url_meta":{"origin":621651,"position":5},"title":"FinMin, Trade Ministry expand Egypt\u2019s automotive incentives strategy to cover all industries","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"EXCLUSIVE- FinMin, Trade Ministry looking to expand automotive industry-style incentive strategy to other sectors: The finance, trade and industry ministers are working on a more expansive incentives strategy for all local industries based on its program for the automotive industry, a senior official in the government tells Enterprise. 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