Law No. 161 of the Year 2022 On Granting Some Facilities to the Egyptian Residing Abroad = قانون رقم 161 لسنة 2022 بشأن منح بعض التيسيرات للمصريين المقيمين فى الخارج

Abstract

Article 1: As an exception to the rules and provisions regulating the taxes and duties payable on the import of passenger cars for personal use, and the provisions of customs exemptions stipulated by the customs law promulgated by law no. 207 of the year 2020, as well as the import controls prescribed in the same respect. The Egyptian who has a valid residence abroad shall have the right to import one private passenger car for his personal use, which is exempt from the taxes and duties that should have been paid for releasing the car, including the value-added tax and the schedule tax, as per the rules and provisions stated by this law. This shall take place against paying a cash amount in foreign currency for which no interest shall be payable, to be remitted from abroad in favor of the Ministry of Finance, to a bank account to be specified by the decree prescribed by article-8 of this law, at the rate of (100%) of the value of all taxes and duties that should have been paid for releasing the car, including the value-added tax and the schedule tax. The aforesaid amount shall be recovered after the lapse of five years as of the date of payment, with the same value in the local equivalent of the foreign currency in which it was paid, and at the exchange rate announced by the Central Bank at the time of recovery.