Tax break scheme for Egyptian exporters launches tomorrow on trial basis

Tax breaks for exporters to launch tomorrow on trial basis: The Tax Authority will meet tomorrow with leaders of Egypt’s export councils to implement on a trial basis the tax settlement mechanism which will be introduced under the new export subsidy program, Al Shorouk reports. We noted yesterday that exporters will be getting tax breaks as part of a new framework to recompense overdue export subsidy payments. The program will effectively pay out what is claimed to be up to EGP 12 bn in incentives owed to Egyptian exporters by the Export Subsidy Fund since last year.