Egypt modifies tariffs on specific goods to encourage local manufacturing

Egypt modifies tariffs on specific goods to encourage local manufacturing

CAIRO – 20 September 2020: The Ministry of Finance began implementing on Sunday presidential decree no.59/2020 on modifying tariffs on specific goods with the aim of encouraging local producers and warding off loophole attempts.

 

Tariffs on the production inputs of the furniture, petrochemicals, home appliance and public transportation vehicles manufacturing industries have been reduced by over 50 percent. The discounts also apply to the parts needed to establish natural gas stations and electric vehicle charging stations.

 

The ministry pointed out in a statement that some importers used to enter specific goods under different categories in order to pay lower tariffs and in order to reduce costs, which is detrimental to local manufacturing.