The Ministry of Finance has prepared a list of achievements in 2006 and plans for the current year.  Minister of Finance Dr. Youssef Boutros Ghali has noted that the new customs draft law will streamline the work process among investors.  He noted that a number of experts have been involved in the setting up of the customs law.

Ghali noted that collection of customs fees electronically is an initiative considered a fist in the history of tariff collection while noting that 62 million pounds have been so far collected.

He explained that a system has been introduced for advance payment that will offer importers the possibility of withdrawing his goods once the release process has been finalized within three days while customs taxes may be postponed to thirty days provided the importer offers financial guarantees.

The Minister said that the customs authority has inserted an X ray device to chech the goods as opposed to the earlier manual process.

A protocol agreement has been signed between the customs authority and its European counterpart to offer technical assistance for the upgrading of the customs authority to set up a training institute and to set a curriculum for training employees.  The customs authority has begun introducing its services and introducing a manifest of the tariff structure as well as the exchange rates issued by the Central Bank.  So far 244 companies are registered and 24 companies have been trained in setting the tax return.

(source : Ministry of Finance)