The statement was issued in response to media reports claiming that the ECA has imposed a 10 percent customs duty on gold imports.

Any customs duties being applied are done so in coordination with the Ministry of Industry and Transport, and other relevant authorities, with approval from the Cabinet, the ECA statement stressed.

Currently, the customs tariff does not exceed 5 percent of the goods’ value, in addition to a 14 percent value-added tax.

Egypt’s imports of customs-free gold recorded approximately 3.8 tons over eight months, El-Shahat Ghatouri, head of the ECA stated in January.