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Egypt expects 2 bln USD in revenue from expat customs-free car import initiative

STORY: Egypt expects 2 bln USD in revenue from expat customs-free car import initiative SHOOTING TIME: June 20, 2024 DATELINE: June 21, 2024 LENGTH: 00:00:58 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of Egyptian Finance Minister Mohamed Maait 2. various of an Egyptian port 3. various of new cars STORYLINE: Egyptian Finance Minister Mohamed Maait said on Thursday that the applications registered by expats, with an aim of benefiting from the zero-customs car import initiative, push expectations to about 2 billion U.S. dollars in revenue. The minister said that more than 250,000 "import approvals" have been issued, and over 35,000 imported cars have been released so far. The initiative allows expatriates to bring one personal-use vehicle to Egypt without incurring customs duties or taxes, including the value-added tax (VAT). Egyptians living abroad should make a five-year bank deposit in foreign currency. After five years, expatriates can withdraw their money in Egyptian pounds accor

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- A staff member of customs checks the luggage of a Macao citizen (R), who was the first passenger to complete customs clearance after a new customs operation became effective in the Guangdong-Macao In-depth Cooperation Zone at Hengqin port, south China's Guangdong Province, March 1, 2024. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- A staff member of customs checks the luggage of a Macao citizen (R), who was the first passenger to complete customs clearance after a new customs operation became effective in the Guangdong-Macao In-depth Cooperation Zone at Hengqin port, south China's Guangdong Province, March 1, 2024. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- A passenger goes through customs clearance process after a new customs operation became effective in the Guangdong-Macao In-depth Cooperation Zone at Hengqin port, south China's Guangdong Province, March 1, 2024. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax exemptions also apply to luggage and parcels entering Hengqin from Macao.

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- A Macao citizen, who was the first passenger to complete customs clearance after a new customs operation became effective in the Guangdong-Macao In-depth Cooperation Zone, speaks to the media at Hengqin port, south China's Guangdong Province, March 1, 2024. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax exemptions also apply to lugga

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- A staff member of customs checks the luggage of a Macao citizen (R), who was the first passenger to complete customs clearance after a new customs operation became effective in the Guangdong-Macao In-depth Cooperation Zone at Hengqin port, south China's Guangdong Province, March 1, 2024. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- A staff member of customs checks the luggage of a Macao citizen, who was the first passenger to complete customs clearance after a new customs operation became effective in the Guangdong-Macao In-depth Cooperation Zone at Hengqin port, south China's Guangdong Province, March 1, 2024. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax exe

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CHINA-GUANGDONG-HENGQIN-CUSTOMS-NEW OPERATION (CN)

(240301) -- ZHUHAI, March 1, 2024 (Xinhua) -- This photo taken on March 1, 2024 shows the launching ceremony for new customs operation in the Guangdong-Macao In-depth Cooperation Zone in Hengqin of Zhuhai, south China's Guangdong Province. The island of Hengqin in south China's Guangdong Province started a new customs operation on Friday that allows most goods to be moved there tax-free from the neighboring Macao Special Administrative Region (SAR). The new operation became effective at midnight in the Guangdong-Macao In-depth Cooperation Zone in Hengqin, in the city of Zhuhai. The 106-square-kilometer island sits between Macao and the Chinese mainland. Under the new mechanism, tariffs will be generally lifted for goods entering Hengqin from Macao, while goods moving from Hengqin to the Chinese mainland will now be subject to import duties, if they are not eligible for added-value tax exemption. Similar tax exemptions also apply to luggage and parcels entering Hengqin from Macao. The new policy is