{"id":562713,"date":"2021-06-03T03:47:19","date_gmt":"2021-06-03T03:47:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/"},"modified":"2021-06-03T03:47:19","modified_gmt":"2021-06-03T03:47:19","slug":"tourism-sector-just-got-a-five-month-breather-from-the-corona-tax","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/","title":{"rendered":"Tourism sector just got a five-month breather from the corona tax"},"content":{"rendered":"

<\/a> Corona tax freeze for tourism companies:<\/strong> Companies in the struggling tourism sector are being given some breathing room after the government agreed to postpone payment of the 1% tax on salaries introduced last year<\/a> to shore up government finances through the pandemic. Tourism companies will not have to pay the tax until 31 October under a decision made by the cabinet<\/a> during its weekly meeting yesterday, a move designed to ease financial pressure on the sector which has been one of the hardest hit by covid-19. Both public and private sector companies have been required to pay the temporary 12-month tax since last summer<\/a>, the proceeds of which will be used to protect the country from the ongoing pandemic emergency.<\/p>\n

The waiver comes as part of a raft of measures and initiatives by the state to support our tourism industry.<\/strong> The CBE last year increased funding to support the tourism sector to EGP 50 bn, allowing more companies in the sector to access soft loans to renovate and upgrade tourism infrastructure. The central bank cut interest rates by a combined 400 bps last year<\/a> to help struggling businesses cope with the repercussions of covid-19.<\/p>\n

ALSO FROM THE CABINET MEETING-<\/strong><\/p>\n

Some EGP 50 mn will be used to purchase extra medical-grade oxygen to shore up the country\u2019s s<\/strong>upplies<\/strong>, according to a decision greenlit yesterday. Questions have been raised over supplies after several deaths in a Sharqia hospital<\/a> earlier this year were alleged to have been caused by an oxygen shortage. The government has been working to secure more supplies, saying in April<\/a> that it now has 2.2 mn liters on hand, up from 1.2 mn in February. It wants to increase this further to 3 mn liters in anticipation of further waves of the virus putting pressure on the country\u2019s healthcare system.<\/p>\n","protected":false},"excerpt":{"rendered":"

Corona tax freeze for tourism companies: Companies in the struggling tourism sector are being given some breathing room after the government agreed to postpone payment of the 1% tax on salaries introduced last year to shore up government finances through the pandemic. Tourism companies will not have to pay the tax until 31 October under […]<\/p>\n","protected":false},"author":1,"featured_media":562714,"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":[7306],"tags":[282,107,104,72,238],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562713","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet-watch","tag-covid-19","tag-economy","tag-enterpriseam","tag-tourism","wpautop","entry"],"acf":{"mongo_id":"1272f8fe-21af-4008-a92b-29dcefb4f148","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/49.jpg","photo_position":"above","related_issue":[562700],"teaser":"","voice_url":""},"yoast_head":"\nTourism sector just got a five-month breather from the corona tax - 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\/06\/03\/tourism-sector-just-got-a-five-month-breather-from-the-corona-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourism sector just got a five-month breather from the corona tax\" \/>\n<meta property=\"og:description\" content=\"Corona tax freeze for tourism companies: Companies in the struggling tourism sector are being given some breathing room after the government agreed to postpone payment of the 1% tax on salaries introduced last year to shore up government finances through the pandemic. 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Industrial companies will receive relief in the form of lower energy\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\/2020\/3\/211.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568297,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/24\/tourism-companies-airlines-hotels-get-another-tax-debt-breather\/","url_meta":{"origin":562713,"position":1},"title":"Tourism companies, airlines, hotels get another tax + debt breather","author":"enterpriseam admin","date":"24 December 2020","format":false,"excerpt":"SMART POLICY- Airlines, hotels, and other tourism establishments are getting another breather on debt, taxes, and utility payments after the Madbouly Cabinet approved yesterday extending a payment holiday introduced in April. According to the decision, these businesses will be entirely exempt from paying real estate taxes for the period between\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/419.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570762,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/14\/egypts-cabinet-to-determine-which-industries-are-eligible-for-income-tax-relief-program\/","url_meta":{"origin":562713,"position":2},"title":"Egypt\u2019s Cabinet to determine which industries are eligible for income tax relief program","author":"enterpriseam admin","date":"14 April 2020","format":false,"excerpt":"EXCLUSIVE- Businesses will find out before month\u2019s end whether they are eligible for corporate income tax relief: The Madbouly Cabinet will issue a decision as early as next week on which industries are and are not eligible for the income tax relief program ordered by President Abdel Fattah El Sisi,\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\/2020\/4\/124.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561291,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/01\/cabinet-approves-new-raises-for-civil-servants\/","url_meta":{"origin":562713,"position":3},"title":"Cabinet approves new raises for civil servants","author":"enterpriseam admin","date":"1 April 2021","format":false,"excerpt":"Public sector employees not covered by the Civil Service Act are officially in line for raises of 13% of their basic salaries at the start of the next fiscal year (which starts on 1 July), under incentives approved by cabinet during its weekly meeting yesterday, an official statement read. The\u2026","rel":"","context":"In "\u064dCABINET WATCH"","block_context":{"text":"\u064dCABINET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/%d9%8dcabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/10.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570876,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/egypt-lists-sectors-eligible-for-covid-19-corporate-income-tax-relief\/","url_meta":{"origin":562713,"position":4},"title":"Egypt lists sectors eligible for covid-19 corporate income tax relief","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"Gov\u2019t lists sectors eligible for covid-19 corporate income tax relief: The Madbouly Cabinet specified on Thursday industries eligible for the income tax relief program ordered by President Abdel Fattah El Sisi earlier this month, confirming what a senior government official told us last week, according to a statement. Under 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":561188,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/more-covid-help-for-tourism-airlines\/","url_meta":{"origin":562713,"position":5},"title":"More covid help for tourism, airlines","author":"enterpriseam admin","date":"29 March 2021","format":false,"excerpt":"Tourism companies, hotels and private airlines are up for another six-month holiday on their debt, tax, and utilities holiday until this October. Cabinet\u2019s Tourism and Antiquities Committee signed off on the proposal ahead of taking it to the Council of Ministers for a final decision, according to a statement yesterday.\u2026","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"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\/562713","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=562713"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562713\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562700"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562714"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562713"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562713"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}