Egypt reduces duties on capital goods, announces other reforms

Article Abstract:

Egypt has reduced customs duties on capital goods imported for business investment, has liberalized tourism services and has directed that an office to serve investors be established in every governorate. These are part of reforms issued since the new government took office in Jan 1996 to promote growth in the economy by boosting privatization, investment and deregulation. Customs duty rates will go to 10% ad valorem from previous rates of as much as 70%. President Hosni Mubarak has assured the public many times that privatization would not result in any workers being laid off.

Management, Industrial equipment, Egypt, Privatization, Privatization (Business)

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Azerbaijan unifies customs rates

Article Abstract:

Azerbaijan enacts Cabinet of Ministers Decree No. 62 which imposes a 15% import tariff on all imported goods unless classified as eligible for exemption for 5% tariff rate. The decree is in compliance with Azerbaijan's agreement with the International Monetary Fund and becomes effective on July 1, 1997. It replaces an earlier regulation which gives capital and intermediate goods freedom from import tariff. The decree favors foreign investors over domestic investors by not imposing import tariffs on their charter capital.

Public Finance Activities, Tax Rates, Tax policy, Azerbaijan, Imports

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Turkey's new import regime

Article Abstract:

Turkey enacted a new import tariff system on Dec 31, 1992, replacing a confusing system of duty and surcharge in an effort to come into line with EC policies. The changes generally benefit EC and European Free Trade Agreement (EFTA) countries. Imports from the US for which there are EC equivalents may suffer higher duties. Sourcing exports to Turkey from EC or EFTA origins and local production offer the best opportunities for avoiding the new regime.

Turkey, Free trade

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