Postponing of indicative prices issued by Customs Authority

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Tuesday - 13 January 2015 - 2:15 PM

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On Monday, 12 January 2015 a meeting of Importers division was held in Cairo Chamber premises to discuss the problems faced by importers, which include recent indicative prices in the presence of Dr. / Magdy Abdel Aziz, head of the Customs Authority.

 

He pointed out during the meeting that the parallel market is very harmful to Egyptian economic system and Smuggling outlets should be  faced, adding that resorting to indicative prices  because of  the false prices submitted by some importers to Customs, which represent only 3% of the original invoice value, explaining that the Authority  Does not consider  traders and importers as smugglers, but is merely an effort to make database for customs Authority as happens in most countries of the world.

 

He decided to postpone activating the indicative prices until be discussed with all stakeholders such as divisions of importers, stationery, and household items and to develop a sound basis for accounting importers for correct invoices to keep the outcome of Customs. He stressed that all the goods in the customs or recently have been contracted prior to the issuance of indicative prices will be excluded from the decisions made in this regard until the end of the technical committee, which consists of importers Division headed by Ahmed Shiha, stationery Division headed by Ahmed Abu Jabal, and household items Division headed by Ashraf Hilal, and Cairo Chamber's board member – Ashraf El Shimy to develop a sound basis for the indicative prices.