E-commerce platforms embrace regulation in Egypt?

E-commerce platforms embrace regulation in Egypt: Some of the largest e-commerce platforms operating in Egypt, among them Jumia and Amazon subsidiary Souq.com, have (at least publicly) expressed support for the government’s drive to regulate their industry. Only 2% of Egypt's e-commerce market is regulated, with the rest being unregistered and un-taxed, Hisham Safwat, CEO of Jumia Egypt, tells Al Monitor. “Egypt has a thriving e-commerce market but it lacks rules,” said Souq.com Egypt CEO Omar El Sahy. Both appeared to look favorably on House Industry Committee member Ali El Kayal’s draft law to regulate the e-commerce industry by implementing a tax framework for it. “The draft law submitted by Kayal targets entities that do not have headquarters on Egyptian territory or are not registered with the [authority],” said Safwat, adding that the law will create a way to tax foreign companies’ sales in Egypt.