On November 13, 2023, the Egyptian Prime Minister issued Ministerial Decree No. 4283 of 2023 (the "Extension Decree") extending the validity and enforcement of Ministerial Decree No. 1801 of 2023 on the exemption of some imports to customs ports, accompanied by passengers entering Egypt from abroad, from customs tax and other fees except for value-added tax (the "Exempting Decree").
By virtue of the Exempting Decree, gold with certain criteria imported to Egypt accompanied by passengers arriving from abroad, shall be exempt from customs tax and other duties for a period of six months, with the exception of the value-added tax (the "VAT"). The Exempting Decree does not include natural or cultivated pearls or precious or semi-precious stones composite.
The Extension Decree extends the enforcement of the Exempting Decree for an additional similar period of six months commencing from November 11, 2023, and expiring on May 10, 2024.
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