{"id":547747,"date":"2022-07-05T04:18:42","date_gmt":"2022-07-05T04:18:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tax-payers-get-break-on-late-fees-changes-to-competition-act-delayed\/"},"modified":"2022-07-05T04:18:42","modified_gmt":"2022-07-05T04:18:42","slug":"tax-payers-get-break-on-late-fees-changes-to-competition-act-delayed","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/tax-payers-get-break-on-late-fees-changes-to-competition-act-delayed\/","title":{"rendered":"Tax payers get break on late fees + Changes to competition Act delayed"},"content":{"rendered":"

<\/a> Taxpayers who are in arrears to the government will catch a bit of a break <\/strong>this <\/strong>year<\/strong> after representatives approved amendments that will reduce late payment fees due before 31 August by 65%. The bill had originally been set to waive 50% of fees due before 15 July, but the Finance Ministry moved to make it more generous in yesterday\u2019s session after MPs called for more support to taxpayers amid the fallout from the crisis in Ukraine. The move comes as the House of Representatives looks to close out this legislative cycle today.<\/p>\n

What about amendments to the Competition Act? They\u2019ve been kicked into the long grass:<\/strong> MPs won\u2019t take a vote on proposals to hand the Egyptian Competition Authority (ECA) greater powers over mergers and acquisitions until the next legislative session, which begins in October. Negotiations over key parts of the amendments to the Competition Act<\/a> remained at a standstill yesterday, with the ECA not seeing eye to eye with the central bank, the Financial Regulatory Authority and the EGX over how much power it should have to regulate M&As.<\/p>\n

Want more on the proposed changes to competition rules? <\/strong>We have an explainer here<\/a>.<\/p>\n

Railway money: <\/strong>The House also approved a KWD 750k (USD 2.45 mn) grant<\/a> from the Kuwait Fund for Arab Economic Development to the International Cooperation Ministry to prepare feasibility studies for a rail connection between Egypt and Sudan.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taxpayers who are in arrears to the government will catch a bit of a break this year after representatives approved amendments that will reduce late payment fees due before 31 August by 65%. The bill had originally been set to waive 50% of fees due before 15 July, but the Finance Ministry moved to make […]<\/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":[7344],"tags":[72,274,180,187,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547747","post","type-post","status-publish","format-standard","hentry","category-legislation-watch","tag-enterpriseam","tag-house-of-representatives","tag-legislation","tag-legislation-watch","tag-tax","wpautop","entry"],"acf":{"mongo_id":"406cc89b-dd7c-47f7-ae46-d22bf639cdb0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[547732],"teaser":"","voice_url":""},"yoast_head":"\nTax payers get break on late fees + Changes to competition Act delayed - 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\/07\/05\/tax-payers-get-break-on-late-fees-changes-to-competition-act-delayed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax payers get break on late fees + Changes to competition Act delayed\" \/>\n<meta property=\"og:description\" content=\"Taxpayers who are in arrears to the government will catch a bit of a break this year after representatives approved amendments that will reduce late payment fees due before 31 August by 65%. 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The amendments\u2026","rel":"","context":"In "Speed Round"","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":622961,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/17\/parliament-committees-to-discuss-real-estate-tax-act-amendments-this-month\/","url_meta":{"origin":547747,"position":2},"title":"Parliament committees to discuss Real Estate Tax Act amendments this month","author":"enterpriseam admin","date":"17 October 2018","format":false,"excerpt":"LEGISLATION WATCH- Parliament\u2019s housing, econ committees to discuss amendments to Real Estate Tax Act this month: The House of Representatives\u2019 economics and housing committees are expected to meet sometime this month to discuss proposed amendments to the Real Estate Tax Act, housing committee chair Rep. 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