The following tax exoneration was awarded to K5 for the duration of the concession:
- Taxes and customs duties on all goods, services, products, equipment, materials and consumables imported and exclusively used in the Free Port Zone
- Taxes and customs duties on all goods, products, equipment, and material entering into the Freeport Zone for its subsequent and exclusive transit to other countries
The main advantages are :
- Quick response on clearances and elimination of duties unless when transferred from EG to any other destination
- Possibility of building up stock of equipment, spare parts and merchandise (within certain time restriction) allowing the creation of a regional hub
- Ability to manufacture, process, refine, mix or blend with other materials
(domestic or foreign), sort, grade and distribute such materials outside or inside the free zone
- Items can be repackaged, re-labeled, assembled, exhibited, displayed, sold, stored or otherwise manipulated, generally without charges and / or levies .
Within the free zone, there will be no necessity to obtain import or export licences.