Special tax exemptions for state-owned entities eliminated
Egypt approves draft law to axe tax exemptions for state entities
The government’s move is part of its promise to the IMF it will roll back the state's involvement in the economy and allow private companies a much greater role.
Wednesday 21/06/2023
Special tax exemptions for state-owned entities eliminated
CAIRO - Egypt's cabinet has approved a draft law to eliminate special tax exemptions for state-owned entities in all investment and economic practices, a cabinet statement said on Wednesday.
Under a $3 billion, 46-month financial support package signed in December, Egypt promised the International Monetary Fund it would roll back the state's involvement in the economy and allow private companies a much greater role.