The new law provides that Egyptian expats who wish to import their personal vehicles may, in lieu of paying tax and customs duties, deposit a cash amount in foreign currency (U.S. dollars or euros) in a certificate of deposit in an Egyptian bank for five years, after which the expats can recover their cash deposit in Egyptian domestic currency. This foreign currency cash deposit will be equivalent to the value of all taxes and fees that had to be paid to import a car into Egypt.
Click here to read more from the Law Library of Congress.
(mew)