{"id":559892,"date":"2021-02-08T03:52:59","date_gmt":"2021-02-08T03:52:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/having-fun-theres-gonna-be-a-tax-for-that-plus-shippers-get-a-break\/"},"modified":"2021-02-08T03:52:59","modified_gmt":"2021-02-08T03:52:59","slug":"having-fun-theres-gonna-be-a-tax-for-that-plus-shippers-get-a-break","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/having-fun-theres-gonna-be-a-tax-for-that-plus-shippers-get-a-break\/","title":{"rendered":"Having fun? There\u2019s gonna be a tax for that. Plus: Shippers get a break."},"content":{"rendered":"

<\/a> That tax on fun is back on the menu: <\/strong>Amendments<\/a> to the tax code that would raise taxes on cinemas, nightclubs, theaters, and wedding venues are on the Finance Ministry\u2019s to-do list in the coming period, Minister Mohamed Maait told the House Planning and Budgeting Committee on Sunday, Al Masry Al Youm<\/a> reports. The amendments were less than popular<\/a> with the business community when first proposed back in 2018.<\/p>\n

Other bills on the House Budget committee\u2019s agenda:<\/strong> Amendments to the Stamp Tax Act, as well as amendments to the Real Estate Tax Act<\/a>, which could include exemptions for factories and businesses. Maait did not specify whether there are new changes in the works on the Stamp Tax Act after recent amendments that lower the tax on EGX transactions and the withholding tax on dividends were signed into law last year<\/a>.<\/p>\n

OTHER LEGISLATION NEWS- <\/strong><\/p>\n

The new Customs Act will no longer require shippers to submit waybills before<\/strong> leaving Egypt<\/strong> under new guidelines<\/a> issued by the Customs Authority yesterday. Cargo ships, planes, and other vehicles will instead have the option of handing over the documentation 48 hours after leaving the country. The guidelines apply to vessels with or without cargo, and shippers who fail to submit waybills within the 48-hour period may be fined, El Shahat Ghatwary, who heads central administration at the Customs Authority, told Enterprise.<\/p>\n

The guidelines will become part of the recently-ratified act <\/strong>and will be worked into the law\u2019s executive regulations, which are currently under consultations with the shipping community, Ghatwary said. The changes were made after exporters, shipping agencies, and customs brokers all pushed back against various aspects of the law, leading to minor concessions<\/a> from the Finance Ministry.<\/p>\n

About the law:<\/strong> Ratified in October<\/a>, the law aims to expedite clearance by introducing rules that simplify the passage of \u201ctransit goods\u201d between ports in Egypt or to ports abroad and creating green channels for trusted companies, among other stipulations. It\u2019s part of a larger drive to streamline customs procedures which also includes the soon-to-be launched<\/a> National Single Window for Foreign Trade Facilitation (Nafeza) that creates pre-registration protocols at seaports.<\/p>\n","protected":false},"excerpt":{"rendered":"

That tax on fun is back on the menu: Amendments to the tax code that would raise taxes on cinemas, nightclubs, theaters, and wedding venues are on the Finance Ministry\u2019s to-do list in the coming period, Minister Mohamed Maait told the House Planning and Budgeting Committee on Sunday, Al Masry Al Youm reports. The amendments […]<\/p>\n","protected":false},"author":1,"featured_media":559893,"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":[309,3414,72,187,871,132],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559892","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-customs","tag-customs-act","tag-enterpriseam","tag-legislation-watch","tag-regulation-watch","tag-trade","wpautop","entry"],"acf":{"mongo_id":"3f5511e2-50db-4cad-b475-06daefb7032e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/132.jpg","photo_position":"above","related_issue":[559881],"teaser":"","voice_url":""},"yoast_head":"\nHaving fun? 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The proposed amendments to the Customs Act are apparently alive and well, and will be approved by the Madbouly Cabinet this Wednesday, Finance Minister Mohamed Maait said, according to Amwal Al Ghad. Cabinet had approved \u201cin principle\u201d the\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":604678,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/house-happy-with-competition-act-amendments-votes-to-extend-real-estate-tax-collection-period\/","url_meta":{"origin":559892,"position":1},"title":"House happy with Competition Act amendments, votes to extend real estate tax collection period","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"LEGISLATION WATCH- House gives preliminary nod to Supply Affairs Law, Competition Act amendments: The House of Representatives\u2019 general assembly have preliminary approval to proposed amendments to the Supply Affairs Law and the Egyptian Competition Act, but postponed its final vote due to lack of quorum, Al Ahram reports. 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":600853,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/12\/house-to-consider-new-salary-related-amendments-to-income-tax-act\/","url_meta":{"origin":559892,"position":2},"title":"House to consider new salary-related amendments to Income Tax Act","author":"enterpriseam admin","date":"12 February 2019","format":false,"excerpt":"LEGISLATION WATCH- An MP is trying to sneak in changes to how salaries are taxed: The House Planning and Budget Committee will discuss in the coming days new amendments to the Income Tax Act that would change the tax code and rates on salaries, Al Mal reports. 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The House had overhauled government-proposed amendments and drafted\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":559892,"position":4},"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. Alaa Waly tells Al Masry\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":631553,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/21\/tenders-and-auctions-act-income-tax-amendments-to-go-to-plenary-session-in-april\/","url_meta":{"origin":559892,"position":5},"title":"Tenders and Auctions Act, Income Tax amendments to go to plenary session in April","author":"enterpriseam admin","date":"21 March 2018","format":false,"excerpt":"LEGISLATION WATCH- The House of Representatives will discuss the Tenders and Auctions Act in a plenary session when it reconvenes in April, Planning and Budgeting Committee chair Hussein Issa tells Al Mal. The committee will put its \u201cfinal touches\u201d on the bill after the March presidential elections before it moves\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559892","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=559892"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559892\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559893"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559892"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559892"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}