Draft SME to hit cabinet in two weeks’ time

LEGISLATION WATCH- A draft law on small and medium-sized businesses is due to the Ismail cabinet in two weeks’ time, a trade and industry ministry official tells Al Masry Al Youm. The bill, which means to offer tax and non-tax incentives that would encourage SMEs to join the formal economy, will not be granting any tax exemptions, but will likely only impose a single levy on small businesses, according to Ragab. It will also allow for the use of real estate assets as collateral for funding, in addition to facilitating funding and licensing procedures, he added.