Controversy over the abolition of the customs paper form for imports

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Sunday - 10 September 2017 - 1:45 PM


The decision of the Central Bank to cancel the model  form paper «4» paper for the import process and convert it to an electronic form in agreement with the Customs Authority, a dispute between importers who confirmed that the decision did not add anything new to the import process, while bankers saw that the decision seeks to eliminate customs evasion.


Ahmed Shiha, member of the importers' division at the Federation of Chambers of Commerce, said that the decision will not affect the speed of the import process or not, and that all the measures taken during the past year to limit the withdrawal and deposit and the import law would stifle import operations, all of which are complicated procedures and in favor of representatives of foreign companies In Egypt, which monopolized the market after preventing small importers from importing according to these measures.


Shiha confirmed that this model is written by the importer after the arrival of the goods in the port, including "shipment data" like the type of goods, their price, the purchase invoice and the money transfer process, and the importers have been operating in paper- based for more than 50 years.


Sahar Al-Damati, the economic expert and deputy managing director of a foreign bank, confirmed that the decision helps to eliminate customs evasion and manipulation and all import operations will be restricted. As well as will have a database and information on the materials and quantities to be imported.


She confirmed that the Central Bank announced its decision to cancel the paper transactions of model 4, which is concerned with the payment of the value of imports exceeding the value of $ 1000, and that the paper will be replaced by another electronic, and the banks are to issue this form through assigned website.