{"id":571605,"date":"2020-05-18T03:56:40","date_gmt":"2020-05-18T03:56:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/18\/house-speaker-submits-income-tax-act-public-enterprises-act-others-for-committee-discussion\/"},"modified":"2020-05-18T03:56:40","modified_gmt":"2020-05-18T03:56:40","slug":"house-speaker-submits-income-tax-act-public-enterprises-act-others-for-committee-discussion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/18\/house-speaker-submits-income-tax-act-public-enterprises-act-others-for-committee-discussion\/","title":{"rendered":"House Speaker submits Income Tax Act, Public Enterprises Act, others, for committee discussion"},"content":{"rendered":"<p><strong>LEGISLATION WATCH- House Speaker submits Income Tax Act, Public <\/strong><strong>Enterprises Act, others, for committee discussion:<\/strong> House Speaker Ali Abdel Aal submitted six draft laws and two protocols to their relevant committees during parliament\u2019s plenary session on Sunday, the <a href=\"https:\/\/alborsaanews.com\/2020\/05\/17\/1346967\">local press reports<\/a>.<\/p>\n<p><strong>Income tax amendments sent to the Planning and Budgeting Committee:<\/strong> Fresh off raising the income tax exemption threshold in amendments passed last month, the planning committee will discuss a fresh set of changes to the legislation \u2014 possibly involving the proposal to cut <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d728f3a7-1c89-4081-82a9-554adbe7d2a3\">capital gains tax for state-owned companies<\/a> we caught wind of last week.<\/p>\n<p><strong>Stamp tax amendments head back to the planning committee:<\/strong> The committee <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a7d1a988-cbe0-4313-8b65-05042bc09ad1\">last week decided<\/a> to temper the government\u2019s proposed cuts to stamp tax on EGX transactions, reducing the tax from 0.15% to 0.075% instead of 0.05%.<\/p>\n<p><strong>The <\/strong><strong><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c77abca3-96eb-4f3f-a1c6-85d5e4eaa0e8\">Public Enterprises Act amendments<\/a><\/strong><strong> were submitted to the Economics Committee.<\/strong> The legislation would <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/27d95a2e-524e-4222-a430-a0b2d42d2ed1\">reclassify listed companies in which the government holds up to a 75% stake<\/a> and a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d728f3a7-1c89-4081-82a9-554adbe7d2a3\">cap on board compensation<\/a>. Members of the Constitutional and Legislative Affairs Committee, and well as the planning and labor committees will participate in the discussions.<\/p>\n<p><strong>Other bills submitted to relevant committees:<\/strong><\/p>\n<ul>\n<li>The suspension of <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fec63e66-71d2-4779-91fb-5dd6ba414562\">tax on agricultural land<\/a> for two years will be discussed by the agriculture and planning committees.<\/li>\n<li>A <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/edition\/am\/e0150715-9b8d-4117-9a79-8ac0e2ee22fe\">draft law to set up a fund to support tourism and archeological sites<\/a> was submitted to the tourism, culture, civil aviation, and constitutional committees.<\/li>\n<li>The civil disputes resolution bill, the <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa672b5a-733e-4c75-a157-f99e6628b23c\">protocol to eliminate illicit trade in tobacco products<\/a> and a presidential decision regarding IMF funding were submitted to the Constitutional Affairs Committee.<\/li>\n<li>Legislation on waste management was submitted to the Energy and Environment Committee, with participation of members of the constitutional affairs, planning and industry committees.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- House Speaker submits Income Tax Act, Public Enterprises Act, others, for committee discussion: House Speaker Ali Abdel Aal submitted six draft laws and two protocols to their relevant committees during parliament\u2019s plenary session on Sunday, the local press reports. Income tax amendments sent to the Planning and Budgeting Committee: Fresh off raising the [&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":[8572],"tags":[5156,5159,5160,72,5157,274,10345,9107,9317,3557,2380,766,5155,5158,5154],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571605","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-committee-for-agriculture","tag-constitutional-and-legislative-affairs-committee","tag-energy-and-environment-committee","tag-enterpriseam","tag-food-security-and-livestock","tag-house-of-representatives","tag-house-speaker","tag-irrigation","tag-planning-and-budgeting-committee","tag-public-enterprises-act","tag-speed-round","tag-stamp-tax","tag-tax-on-agricultural-land","tag-tourism-and-archeological-sites-fund","tag-unified-income-tax-act","wpautop","entry"],"acf":{"mongo_id":"a656d0da-3d20-4abe-b37c-a8040fa473e8","order":"0","is_powered_by":true,"section_story_id":"94b196e3-d276-4bda-804d-a1d65b1fdd3e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[571591],"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>House Speaker submits Income Tax Act, Public Enterprises Act, others, for committee discussion - 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\/2020\/05\/18\/house-speaker-submits-income-tax-act-public-enterprises-act-others-for-committee-discussion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Speaker submits Income Tax Act, Public Enterprises Act, others, for committee discussion\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- House Speaker submits Income Tax Act, Public Enterprises Act, others, for committee discussion: House Speaker Ali Abdel Aal submitted six draft laws and two protocols to their relevant committees during parliament\u2019s plenary session on Sunday, the local press reports. 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The committee will put its \u201cfinal touches\u201d on the bill after the March presidential elections before it moves\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":600853,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/12\/house-to-consider-new-salary-related-amendments-to-income-tax-act\/","url_meta":{"origin":571605,"position":1},"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. The amendments, proposed\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":605137,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/23\/house-approves-civil-rights-medical-tourism-legislation\/","url_meta":{"origin":571605,"position":2},"title":"House approves civil rights, medical tourism legislation","author":"enterpriseam admin","date":"23 December 2018","format":false,"excerpt":"LEGISLATION WATCH- It was a busy weekend at the House of Representatives as MPs: Medical tourism bill: The House Tourism Committee discussed a medical tourism bill yesterday. MPs will meet again today to start working on the bill and a timeline for its introduction to the House as a whole.Cabinet-sponsored\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":599889,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/egypts-parliament-committee-gives-nod-to-proposed-amendments-to-income-tax-act\/","url_meta":{"origin":571605,"position":3},"title":"Egypt\u2019s parliament committee gives nod to proposed amendments to Income Tax Act","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"LEGISLATION WATCH- Proposed changes to how banks are taxed get committee-level approval in the House: The House Planning and Budget Committee has given a nod to government-proposed amendments to the Income Tax Act that would change how banks and corporations account for income from investments in government debt, Al Mal\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":601698,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/committee-finishes-small-enterprises-tax-draft-law\/","url_meta":{"origin":571605,"position":4},"title":"Committee finishes small enterprises tax draft law","author":"enterpriseam admin","date":"7 March 2019","format":false,"excerpt":"EXCLUSIVE- VAT minimum registration requirements to be amended as an incentive to SMEs: The government is set to amend the minimum revenue required to register for VAT to spare SMEs from the burden of paying a VAT, a government official told Enterprise yesterday. The government plans to raise the minimum\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":627388,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/finmin-looks-into-drafting-a-new-income-tax-act\/","url_meta":{"origin":571605,"position":5},"title":"FinMin looks into drafting a new Income Tax Act","author":"enterpriseam admin","date":"31 July 2018","format":false,"excerpt":"EXCLUSIVE- FinMin looks into drafting a new Income Tax Act: The Finance Ministry has formed a committee to look into drafting a new Income Tax Act, Tax Authority deputy head Mohamed Abdel Sattar told Enterprise. 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