Egypt published Customs Law No. 207 of 2020 in its Official Gazette on 11 November 2020. While the new law aims to simplify and standardize procedures by merging and updating Egypt’s customs laws, it also introduces various changes to the current legal regime with stricter penalties to ensure compliance. The new law also aims to support Egypt’s digital transformation and provides for the electronic submission and exchange of documents.
Businesses engaged in import/export operations in Egypt (including brokers and special zone entities) should consider the amendments, clarifications and enhancements of the new law to:
- Review their operations and supply chains in line with the new requirements to better achieve customs compliance, audit readiness and penalty avoidance.
- Facilitate the achievement of any newly introduced or revised benefits brought about through the new provisions.
Source EY
