{"id":587626,"date":"2023-05-30T00:00:00","date_gmt":"2023-05-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/yet-another-night-of-tax-coverage\/"},"modified":"2023-05-30T00:00:00","modified_gmt":"2023-05-30T00:00:00","slug":"yet-another-night-of-tax-coverage","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/30\/yet-another-night-of-tax-coverage\/","title":{"rendered":"Yet another night of tax coverage"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Tax continued to dominate discussions on the airwaves last night<\/span><span style=\"\">, with the nation\u2019s talking heads focusing on<\/span><span style=\"font-weight:400;\"> the new batch of tax amendments that were voted through the House yesterday. We have the full story in the news well, above.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The new income tax will come into effect in July<\/span><span style=\"\">, Deputy Finance Minister Ramy Youssef <\/span><span>told Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=pCi9TDD0J_0\" style=\"\">watch, runtime: 6:13<\/a><\/span><span style=\"font-weight:400;\">), referring to the personal income tax exemption threshold rising to EGP 36k from EGP 24k.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Yet, another tax exemption threshold raise? <\/span><span style=\"\">MP Mohamed Abou El Enein had proposed <\/span><span>once again raising the tax exemption threshold to EGP 42k, according to Ala Mas\u2019ouleety (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=2AWurjt58QM\" style=\"\">watch, runtime: 9:28<\/a><\/span><span style=\"font-weight:400;\">). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Tax breaks will help investors accept the CGT: <\/span><span style=\"\">The new income tax introduces incentives <\/span><span>and facilities to soften the blow of the capital gains tax (CGT) that is expected to come into effect after the income tax changes are signed into law, Egyptian Capital Market Association (ECMA) chairman Mohamed Maher Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=NuNKTqEPwRw\" style=\"\">watch, runtime: 4:38<\/a><\/span><span>), <\/span><span>pointing to the tax cuts on shares of newly-listed companies<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">Also on the airwaves last night:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Lamees El Hadidi sat down for a one-on-one with the UN High Commissioner for <\/span><span style=\"font-weight:700\">Refugees Filippo Grandi <\/span><span>to learn the latest on the situation in Sudan and Egypt\u2019s efforts hosting thousands of refugees. Grandi is currently on a three-day visit to Egypt, where he held talks with President Abdel Fattah El Sisi and visited the Egypt-Sudan border. (Kelma Akhira | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=qJyW8MPdmoI\" style=\"\">watch, runtime: 22:41<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">The state has bought more than 3 mn tons of local wheat<\/span><span style=\"\"> since the start of the <\/span><span>harvest season at the beginning of April. (Al Hayah Al Youm | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=J4Lw8nv7UXA\" style=\"\">Watch, runtime: 2:35<\/a><\/span><span>)<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>MP Abou El Enein is proposing raising the tax exemption threshold again<\/p>\n","protected":false},"author":1,"featured_media":587627,"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":[7232],"tags":[72,106,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-enterpriseam","tag-last-nights-talk-shows","tag-tax","wpautop","entry"],"acf":{"mongo_id":"3b404e6a-b26f-4f39-b136-17d58b4579eb","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1614.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Talk shows continue their coverage of new tax amendments","related_issue":[587606],"teaser":"MP Abou El Enein is proposing raising the tax exemption threshold again","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.0c91b68a-c6d0-4dfd-ba34-391861a4f97b.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Khaled Shaaban to amend Article 8 of the Income Tax Act could see the introduction of a new top tax rate of 26% on\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\/2020\/2\/108.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567383,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/21\/finmin-to-place-new-income-tax-law-up-for-public-consultation-in-2-4-weeks\/","url_meta":{"origin":587626,"position":2},"title":"FinMin to place new income tax law up for public consultation in 2-4 weeks","author":"enterpriseam admin","date":"21 January 2020","format":false,"excerpt":"LEGISLATION WATCH- The Finance Ministry\u2019s new income tax law will be up for public consultations in 2-4 weeks, Minister Mohamed Maait announced during a press conference held yesterday. The law would raise the personal income tax exemption threshold to EGP 24k, close tax avoidance loopholes for foreign companies, and introduce\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\/2020\/1\/661.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591877,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/19\/new-income-tax-law-to-be-finalized-this-fiscal-year-maait\/","url_meta":{"origin":587626,"position":3},"title":"New income tax law to be finalized this fiscal year -Maait","author":"enterpriseam admin","date":"19 December 2019","format":false,"excerpt":"LEGISLATION WATCH- The new income tax law will see the light of day this fiscal year: The new income tax law will be finalized before the end of the current fiscal year in June 2020, Finance Minister Mohamed Maait said at the World Youth Forum earlier this week. The law\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\/2019\/9\/tax-abacus-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583706,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/yet-another-income-tax-exemption-increase-plus-govt-trims-growth-forecast\/","url_meta":{"origin":587626,"position":4},"title":"Yet another income tax exemption increase. PLUS: Gov\u2019t trims growth forecast.","author":"enterpriseam admin","date":"20 March 2023","format":false,"excerpt":"The move is expected to impact 22 mn people","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/vintage-tax-records-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569990,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/15\/low-earners-to-get-larger-than-expected-tax-cut\/","url_meta":{"origin":587626,"position":5},"title":"Low earners to get larger-than-expected tax cut","author":"enterpriseam admin","date":"15 March 2020","format":false,"excerpt":"LEGISLATION WATCH- Low income earners to get larger-than-expected tax cut on orders of President El Sisi: President Abdel Fattah El Sisi yesterday ordered the Madbouly government to provide larger income tax breaks to low-income earners under draft amendments to the Income Tax Act that will soon go up for a\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\/2020\/3\/172.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/587626","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=587626"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/587626\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/587606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/587627"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=587626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=587626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=587626"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=587626"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=587626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}