The prime minister, Dr. Mustafa Madbouly, commented on the matter of tax exemptions in the context of assisting the sector, going on to say: “We were the first to consider exemptions, and we are attempting to avoid double taxation based on international standards.
He continued, “We met the investor from abroad if he provided us with a tax exemption . . . He will pay the tax in his country . . . and I, as a country, did not benefit from a need . ..
Additionally, we created a draught bill in a special investment incentive council.”
In the course of the activities for the Economic Conference Egypt 2022, he made the following points during his address during the session titled “A Road Map for the Development of Industry: Challenges and Mechanisms of Stimulating the Sector”: “When the investor submits the tax statement, the development is… according to the draught law for factories, significant industries, strategic industries, or places that we desire. It plays a sizable part.
55% income tax, with a 45-day limit. The benefits of the delay will pay even if the Ministry of Finance is delayed. It was decided upon by the Council of Ministers to enact this law. It is being sent to Parliament to approve an exceptional incentive during the coming period..
Mustafa Madbouly: To benefit the sector, a special incentive law for deputies should be provided.
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