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Finance Ministry reduces development fees imposed on new cars - Daily News Egypt

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Finance Ministry reduces development fees imposed on new cars

Committee suggests development fee should be calculated for private cars based on price, regardless of capacity

A source from Parliament’s Planning and Budget Committee told Daily News Egypt that legislation is being discussed to reduce development fees for all cars in Egypt.

The new legislation would see cars with 1,330 cc engines, or smaller, have licensing fees equivalent to 0.25% of the car’s total price, down from the previously considered 0.5%. The fees on prices with engines between 1,330 cc to 1,600 cc were reduced to 0.5%. As for cars with engines over 1,600 cc, they will have fees of 1.75% of the price. Cars above 2,030 cc will have the same fee as before at 2.5% of the price.

The Undersecretary of the Planning and Budget Committee in the House of Representatives told Daily News Egypt that the minister of finance partook in a special session on Sunday, but the committee will continue to revise the articles of the law.

Another MP, who requested to stay anonymous, said that the bill, despite having been discussed before, still needs to be voted on within the committee in the coming few days.

He added that there is a proposal within the committee that the development fee be calculated on new private cars based on their price, regardless of their litre capacity.

Daily News Egypt learned that Finance Minister Amr El-Garhy has asked the Planning and Budget Committee to participate in discussions on the draft law no. 147 of 1984.

The committee has made amendments to the government’s bill that amends some provisions of law no. 147 of 1984 to impose a fee for the development of the state’s financial resources. The amendment aims to increase the prices of some fees, including passports, arms licenses, and the residency of foreigners, as well as mobile services, quarries, car licenses, and work permits.

The project includes reducing the fees on extracting work permits abroad to EGP 100, down from EGP 200 and down to EGP 400 from EGP 500 for renewal.

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