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Message from Head of Gold Department to Egyptians Bringing Gold into the Country

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

The head of the Gold Department of the Egyptian Chamber of Commerce, Hani Milad, sent an appeal to those wishing to import gold into the country.

In a telephone interview with the Al-Hekaya program, Hani Milad explained that, according to the operative part of the decision to exempt gold imports from customs duties, it is considered to have entered into force on the day after its publication in the Official Gazette, indicating that the decision did not include restrictions quantity received with arrivals from abroad, and it included all arrivals from abroad and did not exclude one category from another.

Milad added: “There is no ceiling on the amount of gold that comes in, that is, the amount with you. Bring it in your bag and enter Egypt with it,” stressing the need to disclose to customs officials the amount of gold in the possession of those arriving from abroad in order to assess the amount of tax on the added cost and collect it from the competent authorities at the airport.

And continued: “Give gold, raw ingots, not artifacts, because ingots have two advantages. The first that you will not buy with skill, and the second will not pay the added value for expensive artifact craftsmanship,” emphasizing that gold prices for the last period has risen unreasonably since he advised citizens to buy now because the price of gold is currently close to the world price.

Source: Cairo 24

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