INSEAD Day 4 - 728x90

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.

Egypt to levy 10% customs tax on import of mobile phones

Imported phone will now cost more in Egypt.
  • Egypt’s Minister of Finance explained that the amendments aim to encourage investment, maximize production facilities
  • The amendment of some categories of customer tariffs comes in light of the conclusions reached by the Higher Council of Customs Tariffs in Egypt

Egypt has decided to levy a ten percent customs tax on the import of mobile phones in order to promote local industry.

Egypt’s Minister of Finance explained that the amendments aim to encourage investment, maximize production facilities and strengthen competitiveness of goods manufactured there in international markets.

Mohamed Maait added that computers and tablets are excluded from the tax, because they constitute a tool for digital transformation and the development of the education system.

The amendment of some categories of customer tariffs comes in light of the conclusions reached by the Higher Council of Customs Tariffs in Egypt, head of the Egyptian customs authority, El-Shahat Ghaturi said.