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Wednesday, 26 September 2018

EBA prepares remarks on Customs Act to present to House of Representatives

The Egyptian Businessmen’s Association (EBA) is laying out its remarks and concerns on the Finance Ministry’s draft of a new Customs Act, Youm7 reports. The EBA plans to present these remarks to the House of Representatives once it convenes for its fourth legislative session next month. A primary concern the EBA has is that the draft law would give the Customs Authority too much power, which may breed more corruption and create issues for investors. The Egyptian Federation of Investors Associations (EFIA) and Federation of Egyptian Industries had also expressed concerns that penalties for customs evasions laid out in the legislation are too severe.

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