Finance Ministry exempts imported steel products from 10% development fee

The Egyptian Ministry of Finance exempted imported iron imports from abroad, whether from alloys or non-alloys. As a production requirement for companies and factories production from the fee of the state resource development “issued by Law n° 83” of the year, following the Ministry of Finance request approval from the Tax and Customs Committee of the Federation of Egyptian Industries. Whoever, the Union confirmed that the imposition of fees at 10% would increase pressure on local industry and harm its competitiveness.

In May, the House Planning and Budget Committee approved a series of new “development
fees” for a wide range of products. The Ministry of Finance proposed it as a tax to help bridge
the growing financial deficit caused by the Coronavirus pandemic.

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About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

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92 Members

28 Board of Directors

17 Country

300.000 Employees

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