In the context of current preparations to facilitate customs and taxes procedures ahead of the Climate Change Conference (COP27), Minister of Finance Mohamed Maeet issued the simplified customs procedures and Value Added Tax (VAT) refund manual. Egypt will be hosting COP27 next month in the Red Sea resort city of Sharm el-Sheikh.
The minister said the manual is in Arabic and English and identifies import customs procedures under the temporary release system, cargo temporary release for exhibition and re-exports procedures and VAT refund procedures for foreign departing passengers.
The manual was circulated, uploaded, and published on the COP27 website, Ministry of Finance website, and the portals of other related authorities.
All import shipments related to COP27 are exempted from Advance Cargo Information (ACI) registration at all customs ports.
All cargo arriving at Sharm el-Sheikh International Airport will not be declared through the NAFEZA system.
Simplified procedures apply to the temporary release for cameras and media equipment of foreign press and media correspondents, Maeet said.
According to a statement issued by the Ministry of Finance, the COP27 participant delegations will enjoy tax and customs exemptions and benefits.
On arrival to Egypt, guests must declare the amount of foreign currency they hold, tradable financial or commercial bonds.
Non-Egyptian passengers leaving Egypt are allowed to travel with the remaining amounts providing they were declared to customs at the time of arrival.
The minister has approved a bonded area at Sharm el-Sheikh International Airport to facilitate cargo customs procedures.
All examination, inspection and valuation processes will be carried out in the bonded area. A central operations room has been set up at Cairo International Airport to monitor and immediately remove any impediments to customs release, head of Customs Authority Shahat Gatouri said.
The minister has also issued a decree for a committee comprising Egyptian Tax Authority and Customs Authority officials to facilitate the procedures of cargo customs release and Value Added Tax (VAT) refund to guests taking part in the COP27.
This committee will take the necessary procedures to facilitate temporary customs release of all equipment and machines accompanying the UN secretariat, official delegations, or international media briefing delegations that will participate in the climate summit.
The said committee is also responsible for coordination with the competent officials of the Ministry of Environment and the Ministry of Foreign Affairs to release such equipment, other items related to the United Nations Climate Conference Secretariat, items accompanying foreign correspondents who will provide media coverage, and items accompanying the delegations participating in this big global event.
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