The Ministry of Finance revealed on Monday in a press statement that the volume of cars, passenger or transport, and spare parts that were released from customs during fiscal year (FY) 2017/2018, worth EGP 29.7bn.
Meanwhile, the total taxes, customs duties, and other fees and fines collected amounted to EGP 9.92bn.
The statement explained that the customs released, under the supervision of the General Administration of Customs, headed by Mahmoud Mustafa, director of the General Administration of Customs of Cars in Alexandria, 75.32m passenger cars of various origins, models, and capacities, worth about EGP18bn, noting that the customs duties collected from these cars amounted to EGP 3bn.
“The value of taxes and customs duties exempted under the European and Turkish partnership agreements and Agadir has approached the value of EGP 5bn,” stated the ministry.
On the other hand, the total customs duties exempted under the European Partnership Agreements, the Turkish Partnership, and the Agadir Agreement, during FY 2017/2018, amounted to about EGP 6bn.