{"id":629308,"date":"2018-05-28T04:14:47","date_gmt":"2018-05-28T04:14:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/preferential-white-list-new-tariffs-on-tourism-new-penalties-and-more-in-customs-act\/"},"modified":"2018-05-28T04:14:47","modified_gmt":"2018-05-28T04:14:47","slug":"preferential-white-list-new-tariffs-on-tourism-new-penalties-and-more-in-customs-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/preferential-white-list-new-tariffs-on-tourism-new-penalties-and-more-in-customs-act\/","title":{"rendered":"Preferential \u201cwhite list,\u201d new tariffs on tourism, new penalties and more in Customs Act"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>EXCLUSIVE- Preferential \u201cwhite list,\u201d clampdown on tour agency car rentals, new penalties and more in Customs Act:<\/strong> The latest draft of the Customs Act will include a host of measures that facilitate the flow of goods through Egypt\u2019s ports while also introducing new tariffs for the tourism sector and penalties for violators, sources tell Enterprise. We\u2019ve also received confirmation that a number of recently announced changes to the act are in place, including <a href=\"https:\/\/enterprise.press\/stories\/2018\/03\/01\/customs-act-lowers-tariffs-on-capital-goods-to-2-from-5\/\">slashing customs duties on capital goods<\/a> to 2% from a current 5% and <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/14\/amendments-to-the-customs-act-will-expand-exemptions-for-production-inputs\/\">expanding temporary exemptions<\/a> for production inputs and packaging equipment. Highlights of law, which is currently with the Finance Ministry for review, include:<\/p>\n<ul>\n<li>Sometimes, common sense wins: <strong>The Customs Authority will establish a \u201cwhite list\u201d of importers who will benefit from expedited clearance of goods.<\/strong> Companies on the list will be able to clear their goods without initially undergoing full procedures. An inspection of their warehouses and their documentation will be conducted later. Importers \u201cin good standing\u201d who have been abiding by the rules will be eligible for entry on the list. <\/li>\n<li><strong>No more gaming the system: The amendments propose a new tariff structure for vehicles imported by tour operators, hotels and resorts.<\/strong> Tariffs on cars and vans imported by industry players will double to 10% for vehicles with a price tag of under EGP 500k. Cars over that level will pay 10% for EGP 500k of the price tag, while the remainder of the value will be subject to a levy of 40-135% based on engine size. Tour buses will continue to be taxed at their current level of 5%.<\/li>\n<li><strong>A limit will also be imposed on the number of vehicles a tourism operator can import.<\/strong> The Tourism Ministry will determine the allocation for company based on its size.<\/li>\n<li>In other words: <strong>Say goodbye to the racket of importing vehicles nearly customs-free and then renting them out <\/strong>as personal automobiles with discrete stickers applied.<\/li>\n<li>The amendments will see <strong>the introduction of installment payments<\/strong> on import duties.<\/li>\n<li><strong>Penalties will be amended.<\/strong> Smuggling of banned goods could see prison sentences of up to five years. Customs evaders can choose between time in prison or paying fines of double the import bill.<\/li>\n<li><strong>Signing off on temporary exemptions will be the sole purview of the Customs Authority.<\/strong> Prior to the amendments, various ministries could issue temporary exemptions.<\/li>\n<li><strong>We\u2019ve heard this before:<\/strong> The Customs Authority will establish a single platform for importers to obtain and submit all their documents. The authority will also establish a importer services department. <\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- Preferential \u201cwhite list,\u201d clampdown on tour agency car rentals, new penalties and more in Customs Act: The latest draft of the Customs Act will include a host of measures that facilitate the flow of goods through Egypt\u2019s ports while also introducing new tariffs for the tourism sector and penalties for violators, sources tell Enterprise. [&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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-629308","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ad147eca-7ef4-4eee-bf21-2dc1b570fc22","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[629299],"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>Preferential \u201cwhite list,\u201d new tariffs on tourism, new penalties and more in Customs Act - 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\/05\/28\/preferential-white-list-new-tariffs-on-tourism-new-penalties-and-more-in-customs-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Preferential \u201cwhite list,\u201d new tariffs on tourism, new penalties and more in Customs Act\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Preferential \u201cwhite list,\u201d clampdown on tour agency car rentals, new penalties and more in Customs Act: The latest draft of the Customs Act will include a host of measures that facilitate the flow of goods through Egypt\u2019s ports while also introducing new tariffs for the tourism sector and penalties for violators, sources tell Enterprise. 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package includes incentives, white list of importers, crackdown on tourism car rentals","author":"enterpriseam admin","date":"4 June 2018","format":false,"excerpt":"LEGISLATION WATCH- Potential amendments to the Customs Act are now with the Planning and Budget Committee for discussion, Al Mal reports, after the House voted to send the bill to committee. The draft law, which had receive the Ismail Cabinet\u2019s sign-off in February, is expected to slash custom duties on\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":622706,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/10\/finmin-releases-final-draft-of-the-customs-act\/","url_meta":{"origin":629308,"position":1},"title":"FinMin releases final draft of the Customs Act","author":"enterpriseam admin","date":"10 October 2018","format":false,"excerpt":"** #2 LEGISLATION WATCH- FinMin releases final draft of the Customs Act: The Finance Ministry has released the final draft of the amended Customs Act on Tuesday after consultations with business groups and global financial institutions, according to a ministry statement. The ministry plans to introduce the act to the\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":630784,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/01\/customs-act-lowers-tariffs-on-capital-goods-to-2-from-5\/","url_meta":{"origin":629308,"position":2},"title":"Customs Act lowers tariffs on capital goods to 2% from 5%","author":"enterpriseam admin","date":"1 March 2018","format":false,"excerpt":"LEGISLATION WATCH- The new Customs Act would slash customs duties on capital goods to 2% from a current 5%, Customs Authority head Magdy Abdel Aziz tells Al Shorouk on Wednesday. The move is part of a series of incentives laid out in the proposed law, which also include expanding temporary\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":632576,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/14\/amendments-to-the-customs-act-will-expand-exemptions-for-production-inputs\/","url_meta":{"origin":629308,"position":3},"title":"Amendments to the Customs Act will expand exemptions for production inputs","author":"enterpriseam admin","date":"14 February 2018","format":false,"excerpt":"LEGISLATION WATCH- Amendments to the Customs Act will expand exemptions for production inputs. The Finance Ministry announced changes to the Customs Act designed to expand exemptions and tighten loopholes for tax dodgers. The amendments will expand temporary exemptions for productions inputs throughout the value chain and, for the first time,\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":626726,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/10\/finmin-investment-ministry-to-outline-new-regs-for-private-freezones\/","url_meta":{"origin":629308,"position":4},"title":"FinMin, Investment Ministry to outline new regs for private freezones","author":"enterpriseam admin","date":"10 July 2018","format":false,"excerpt":"EXCLUSIVE- FinMin, Investment Ministry to outline new regs for private freezones: A committee of officials from the ministries of finance and investment has begun meetings to formulate new regulations governing private freezones, government sources tell Enterprise. The move seems geared to tackle concerns raised by investors in private freezones that\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":625378,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/02\/fei-tax-committee-lays-out-its-recommendation-on-the-new-customs-act-on-wednesday\/","url_meta":{"origin":629308,"position":5},"title":"FEI tax committee lays out its recommendation on the new Customs Act on Wednesday","author":"enterpriseam admin","date":"2 August 2018","format":false,"excerpt":"The Federation of Egyptian Industries\u2019 (FEI) tax committee has laid out its recommendations and reservations on the Finance Ministry\u2019s draft of a new Customs Act, Youm7 reports. These appear to be minimal, with its major concerns boiling down to ensuring compliance of the law to the Investment Act, clearly defining\u2026","rel":"","context":"In &quot;Legislation + Policy&quot;","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"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\/629308","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=629308"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/629308\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/629299"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=629308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=629308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=629308"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=629308"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=629308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}