Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Share
Read Full Issue 
Highly anticipated new tax measures steal the show(s): Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk’s upcoming press conference set to announce new tax measures was the talk of the talk show circuit last night, with Egypt-Saudi relations also getting a look in.
“The press conference will see the announcement of new, clear tax policies for business and investors,” Ahmed Moussa said on his program Ala Mas’ouleety (watch, runtime: 5:27), adding that the announcement marks “a new beginning for the relationship between the tax authority and the financial, business, and investment sectors.” Moussa added that “the capital gains tax will be among the topics addressed at today’s press conference,” saying that “the Egyptian stock market needs substantial support and numerous incentives.” The press conference will also see “the formulation of some new financial policies for business and investors,” Moussa said, stating that “the government is keen on improving the investment climate in the country in order to encourage investors.”
“The government’s primary goal is to put in place a stable and improved investment climate. It wants to send a message to the business community that there is no intention of raising taxes,” said professor of finance and investment Hisham Ibrahim in a phone call with Azza Mostafa on her program El Sa’a El Sadesa (watch, runtime: 8:47). Ibrahim added that the government is currently moving toward simplifying and easing procedures for investors.
ALSO ON THE AIRWAVES- “Egypt and Saudi Arabia are in the final stages of launching the High Egyptian-Saudi Coordination Council, chaired by President Abdel Fattah El Sisi and Saudi Crown Prince Mohammed bin Salman,” Foreign Minister Badr Abdelatty said yesterday in a joint press conference with his Saudi counterpart, Prince Faisal bin Farhan (watch, runtime: 25:16). “The coordination council will serve as a comprehensive framework for further deepening bilateral relations between the two brotherly countries and advancing the horizon of bilateral cooperation in the political, economic, commercial, developmental, and investment fields, serving the interests of both nations,” said Abdelaty. The minister’s statements were also covered by Ahmed Moussa on his show Ala Mas’ouleety (watch, runtime: 3:50).
