{"id":560157,"date":"2021-02-17T03:47:19","date_gmt":"2021-02-17T03:47:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/much-ado-about-nothing\/"},"modified":"2021-02-17T03:47:19","modified_gmt":"2021-02-17T03:47:19","slug":"much-ado-about-nothing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/much-ado-about-nothing\/","title":{"rendered":"Much ado about nothing"},"content":{"rendered":"

The <\/strong>draft <\/strong>executive regulations (pdf)<\/a><\/strong> of the Unified Tax Act are apparently not to <\/strong>the liking of the Federation of Egyptian Chambers of Commerce<\/strong>, with nearly three-quarters of its members objecting to the regulations for not delivering enough change, El Watan<\/a> reports. The draft regulations, in their current form, only remove a handful of articles and amend figures in others, the federation said in its report on the draft. The draft regs, which the Finance Ministry finalized<\/a> and put up for public consultation in January, introduced harsher penalties across the board for violators without taking into account the different categories of tax defaulters, head of the Kafr El Sheikh chamber Hatem Abdel Ghaffar said.<\/p>\n

Background:<\/strong> The Unified Tax Act<\/a> includes the creation of Egypt\u2019s single tax platform as a bid to overhaul tax administration, encourage informal businesses to go legit, and grant authorities better oversight on commercial transactions and tax accounts. The pilot phase was launched last January in the country, with 11k of the biggest taxpayers filing returns and paying taxes via the platform. Among those giving their comments on the regs (pdf)<\/a> are the Egyptian Tourism Federation, the Egyptian Federation of Investors Associations, and the Federation of Egyptian Industries.<\/p>\n

ALSO FROM THE HOUSE-<\/strong><\/p>\n

The Senate\u2019s bylaws earned the House of Representatives\u2019 final seal of approval<\/strong> yesterday, Ahram Gate<\/a> reports. In their final form, the bylaws require members of the lower chamber of parliament to obtain approval from the Senate president before traveling abroad, subject senators\u2019 stipends to taxes, and lay out the Senate\u2019 full mandate.<\/p>\n","protected":false},"excerpt":{"rendered":"

The draft executive regulations (pdf) of the Unified Tax Act are apparently not to the liking of the Federation of Egyptian Chambers of Commerce, with nearly three-quarters of its members objecting to the regulations for not delivering enough change, El Watan reports. The draft regulations, in their current form, only remove a handful of articles […]<\/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":[72,3222,276,187,69,3665],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560157","post","type-post","status-publish","format-standard","hentry","category-legislation-watch","tag-enterpriseam","tag-federation-of-egyptian-chambers-of-commerce","tag-finance-ministry","tag-legislation-watch","tag-tax","tag-unified-tax-act","wpautop","entry"],"acf":{"mongo_id":"2bd6d17a-17d2-4187-8245-954821a455dd","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[560143],"teaser":"","voice_url":""},"yoast_head":"\nMuch ado about nothing - 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\/2021\/02\/17\/much-ado-about-nothing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Much ado about nothing\" \/>\n<meta property=\"og:description\" content=\"The draft executive regulations (pdf) of the Unified Tax Act are apparently not to the liking of the Federation of Egyptian Chambers of Commerce, with nearly three-quarters of its members objecting to the regulations for not delivering enough change, El Watan reports. 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Among the amendments is a proposal to give a tax cut to low income earners by tripling the tax\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":566238,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/unified-tax-act-executive-regs-spell-out-how-new-tax-platform-will-work\/","url_meta":{"origin":560157,"position":2},"title":"Unified Tax Act executive regs spell out how new tax platform will work","author":"enterpriseam admin","date":"6 June 2021","format":false,"excerpt":"The final version of the Unified Tax Act\u2019s executive regulations were published this morning in the Official Gazette, minister Mohamed Maait said in a statement this morning. The regulations detail how Egypt\u2019s newly-launched single tax portal will work and outline instructions for taxpayers on accessing and using the platform to\u2026","rel":"","context":"In "SPEED ROUND: TAXATION"","block_context":{"text":"SPEED ROUND: TAXATION","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-taxation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/429.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605135,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/cabinet-to-sign-off-on-customs-act-amendments-this-week\/","url_meta":{"origin":560157,"position":3},"title":"Cabinet to sign off on Customs Act amendments this week?","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"LEGISLATION WATCH- Cabinet to sign off on Customs Act amendments this week? 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":600097,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/federation-of-egyptian-industries-reviewing-final-draft-of-customs-act\/","url_meta":{"origin":560157,"position":4},"title":"Federation of Egyptian Industries reviewing final draft of Customs Act","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"LEGISLATION WATCH- Final draft of amended Customs Act now with industry group for review: The Federation of Egyptian Industries (FEI) is reviewing the final version of proposed amendments to the Customs Act, Mohamed El-Bahy, head of the federation\u2019s taxes and customs committee, told Youm7. The FEI\u2019s feedback goes to 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":622430,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/01\/house-tourism-ministry-are-drafting-a-unified-tourism-act\/","url_meta":{"origin":560157,"position":5},"title":"House, Tourism Ministry are drafting a Unified Tourism Act","author":"enterpriseam admin","date":"1 October 2018","format":false,"excerpt":"LEGISLATION WATCH- House, Tourism Ministry are drafting a Unified Tourism Act: The House of Representatives\u2019 Tourism and Civil Aviation Committee is working with the Tourism Ministry to draft a Unified Tourism Act, committee head Sahar Talaat Moustafa said. 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