{"id":543008,"date":"2022-01-30T04:05:19","date_gmt":"2022-01-30T04:05:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/"},"modified":"2022-01-30T04:05:19","modified_gmt":"2022-01-30T04:05:19","slug":"egypts-finance-ministry-to-revisit-real-estate-tax-on-factories","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/","title":{"rendered":"Egypt\u2019s Finance Ministry to revisit real estate tax on factories?"},"content":{"rendered":"<p><strong>The Finance Ministry<\/strong> has reportedly pledged to review the real estate tax on factories, <a href=\"https:\/\/bit.ly\/3ocmsrM\">Al<\/a><a href=\"https:\/\/bit.ly\/3ocmsrM\">Borsa<\/a> quotes Egyptian Federation of Investors Association (<strong>EFIA<\/strong>) head Mahram Hilal as saying. Factories have for years been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6cd58fa0-c48e-4751-b9fe-777df2347fac\">vying<\/a> for an exemption from real estate tax to allow them to pay off high production costs without success, though the government has instead proposed a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/921b11ae-ef47-4406-8e5f-39162c7f8e6c\">reduction in property tax dues<\/a> under a draft bill.<\/p>\n<p><strong>The Suez Canal Economic Zone<\/strong> is looking for ways of <a href=\"https:\/\/sczone.eg\/cooperation-agreement-between-thpa-s-a-and-suez-canal-economic-zone\/\">increasing business ties with Greece\u2019s<\/a><a href=\"https:\/\/sczone.eg\/cooperation-agreement-between-thpa-s-a-and-suez-canal-economic-zone\/\"><\/a><a href=\"https:\/\/sczone.eg\/cooperation-agreement-between-thpa-s-a-and-suez-canal-economic-zone\/\">second-largest port<\/a> after it signed an agreement with the <strong>Thessaloniki Port Authority<\/strong> last week.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li>The <strong>General <\/strong><strong>Authority for Supply Commodities <\/strong><strong><a href=\"https:\/\/www.nasdaq.com\/articles\/egypts-gasc-buys-420000-tonnes-of-wheat-in-tender\">purchased 420k tonnes of wheat<\/a><\/strong> for March delivery in an international tender last week \u2014 <strong>more than 40% of it from conflict-threatened Ukraine<\/strong>, with the rest coming from Russia and Romania.<\/li>\n<li>The <strong>European Bank for Reconstruction and Development<\/strong> is working with <strong>QNB<\/strong><strong> AlAhli<\/strong> and blockchain platform <strong><a href=\"https:\/\/cargox.io\/press-releases\/CargoX-Egypt-MTS-Nafeza-ACI\/\">CargoX<\/a><\/strong> \u2014 of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e9e2f68a-8c99-4750-b736-cbcdd6f65839\">Nafeza<\/a> fame \u2014 to <a href=\"https:\/\/www.ebrd.com\/cs\/Satellite?c=Content&cid=1395303825830&pagename=EBRD%2FContent%2FContentLayout&rendermode=live%3Fsrch-pg\">test out<\/a> digital trade finance network <strong><a href=\"https:\/\/contour.network\/\">Contour<\/a><\/strong> in Egypt.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry has reportedly pledged to review the real estate tax on factories, AlBorsa quotes Egyptian Federation of Investors Association (EFIA) head Mahram Hilal as saying. Factories have for years been vying for an exemption from real estate tax to allow them to pay off high production costs without success, though the government has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,317,309,72,564,308,625,416,132,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-543008","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-customs","tag-enterpriseam","tag-food","tag-nafeza","tag-qnb-alahli","tag-suez-canal-economic-zone","tag-trade","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"e210544a-c2d2-4cc8-89dc-e29f3f8ee453","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542988],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt\u2019s Finance Ministry to revisit real estate tax on factories? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s Finance Ministry to revisit real estate tax on factories?\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry has reportedly pledged to review the real estate tax on factories, AlBorsa quotes Egyptian Federation of Investors Association (EFIA) head Mahram Hilal as saying. Factories have for years been vying for an exemption from real estate tax to allow them to pay off high production costs without success, though the government has [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-30T04:05:19+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s Finance Ministry to revisit real estate tax on factories?\",\"datePublished\":\"2022-01-30T04:05:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\"},\"wordCount\":183,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"ALSO ON OUR RADAR\",\"commodities\",\"customs\",\"EnterpriseAM\",\"food\",\"Nafeza\",\"QNB Alahli\",\"Suez Canal Economic Zone\",\"trade\",\"wheat\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/\",\"name\":\"Egypt\u2019s Finance Ministry to revisit real estate tax on factories? 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That\u2019s what Egyptian Federation of Investors Association Secretary Sobhi Nasr claims, telling Amwal Al Ghad that Finance Minister Mohamed Maait agreed to temporarily exempt factories from paying the property tax. The apparent decision, which still requires a formal sign-off\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567464,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/23\/cabinet-approves-partial-property-tax-exemption-for-factories\/","url_meta":{"origin":543008,"position":1},"title":"Cabinet approves partial property tax exemption for factories","author":"enterpriseam admin","date":"23 January 2020","format":false,"excerpt":"CABINET WATCH- Cabinet approves partial property tax exemption for factories: The Madbouly Cabinet approved draft amendments to the Real Estate Tax Act that exempts idle land from property tax, according to a cabinet statement. The amendments also grant the cabinet the power to exempt land used by strategic industries and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/682.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568587,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/28\/investors-call-on-the-government-to-scrap-real-estate-tax-on-factories\/","url_meta":{"origin":543008,"position":2},"title":"Investors call on the government to scrap real estate tax on factories","author":"enterpriseam admin","date":"28 January 2020","format":false,"excerpt":"Investors call for an end to real estate tax on factories: The Investors Union has petitioned the government to abolish the real estate tax on the factories, less than a week after the cabinet decided to introduce new tax exemptions, the local press reports. Samir Aref, head of the Tenth\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/718.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566285,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/09\/of-poles-elaraby-and-property-taxes\/","url_meta":{"origin":543008,"position":3},"title":"Of Poles, Elaraby and property taxes\u2026","author":"enterpriseam admin","date":"9 June 2021","format":false,"excerpt":"Ain Sokhna could be home to a new Polish industrial zone spanning up to 1 mn sqm in the Suez Canal Economic Zone in the wake of an agreement signed yesterday between the SCZone and a Polish special economic zone, the Trade and Industry Ministry and the SCZone said. The\u2026","rel":"","context":"In &quot;SPEED ROUND: MANUFACTURING&quot;","block_context":{"text":"SPEED ROUND: MANUFACTURING","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":569018,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/11\/egypt-may-exempt-state-affiliated-strategic-factories-from-property-tax\/","url_meta":{"origin":543008,"position":4},"title":"Egypt may exempt state-affiliated, strategic factories from property tax","author":"enterpriseam admin","date":"11 February 2020","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t mulling whether to give property tax exemptions to state-affiliated factories and private-sector companies in a handful of \u201cstrategic\u201d industries: After draft cabinet-approved amendments to the Real Estate Tax Act pass the House of Representatives, the government could move to exempt factories in which it holds shares from paying\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/145.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568334,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/27\/no-real-estate-tax-exemption-for-industry-but-maybe-a-rate-cut\/","url_meta":{"origin":543008,"position":5},"title":"No real estate tax exemption for industry, but maybe a rate cut","author":"enterpriseam admin","date":"27 December 2020","format":false,"excerpt":"Factories will not be getting the real estate tax exemption they have been vying for, but could instead see a significant reduction in their property tax dues under a new draft bill the finance and trade and industry ministries have drafted, the local press reports, citing unnamed government sources. The\u2026","rel":"","context":"In &quot;LEGISLATION WATCH&quot;","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/437.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=543008"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/543008\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542988"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=543008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=543008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=543008"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=543008"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=543008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}