{"id":587871,"date":"2023-06-02T00:00:00","date_gmt":"2023-06-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/"},"modified":"2023-06-02T00:00:00","modified_gmt":"2023-06-02T00:00:00","slug":"the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/","title":{"rendered":"The new tax changes dominated headlines last week + New month, new macro indicators"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Good morning, ladies and gentlemen. <\/span><span>We hope you survived yesterday\u2019s sandstorm and that your weekend plans are all indoors.<\/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\">Eat your heart out, Mad <\/span><span style=\"font-weight:700\">Max<\/span><span>: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/6Octoberfan\/posts\/6266952336720651\" style=\"\">Photos<\/a><\/span><span> of massive dust clouds and yellow skies, reports of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=3536507886605492&id=100007389467446\" style=\"\">trees falling on cars<\/a><\/span><span>, and of a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/samkozman\/posts\/10167994823845372\" style=\"\">billboard falling<\/a><\/span><span> and disrupting traffic on the 6th of October Bridge were everywhere in the local press and across social media yesterday, so be careful out there, folks, and try to stay off the roa<\/span><span>ds.  <\/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\">PSA- It doesn\u2019t seem like it will let up today<\/span><span>, with the mercury rising above 40\u00b0C and heavy winds expected in the afternoon, according to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/ema.gov.eg\/posts\/pfbid02Ucj55c31A4MT9DjURDWEPW6QHxbQj5EDFoNprxfD5pGvoqMhyJ8Ls2C25U5YzCqvl?__cft__[0]=AZUrJKUsIsUyPK3mNQmUt84TK_GCQZ-h4GOGTdW4bBkKjDVgjVm6XC4yaUQOnvdzy6NhFOmFonGZA5qcIvI9GMT86VnfPIbCzK8tptDGhNZIxA45_QldheFHoPNL4VDrLecgO2LAAVlYxZ0UcCt9ugs5FdcIeZhDN3rYL5yrmqrc6msmTrTOyq9Flj8Xlu4nuSo&__tn__=%2CO%2CP-R\" style=\"\">National Meterological Authority<\/a><\/span><span>. The mercury is set to cool off overnight to 23\u00b0C, our favorite weather app tells us. Tomorrow will be only marginally cooler, with the mercury hovering around 38\u00b0C during the day, and falling to 21\u00b0C during the night. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">If you\u2019re set on getting out of the house, maybe a spa off of our list today in the Enterprise Guide <\/span><span style=\"font-weight:400;\">to help drown out the insanity could be the only activity worth doing. <\/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\">Enterprise Weekend comes out each Friday at 9:00am CLT.<\/span><span style=\"font-weight:400;\"> We\u2019ll be back on Sunday at 6am with EnterpriseAM. Until then: Enjoy the weekend.<\/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;\">LAST WEEK IN 3 MINS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">It was a legislation-heavy week<\/span><span style=\"\">, with some updates here and there on <\/span><span style=\"font-weight:400;\">everything from energy to a slew of new investments. But leading the conversation, however, were the new tax changes that are coming. <\/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;\">TAXATION- <\/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\">#1-<\/span><span style=\"font-weight:700\">MPs approved a raft of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0cd1eae3-ee20-4bba-92fe-805654646ebb\" style=\"\">new tax changes<\/a><\/span><span style=\"font-weight:700;\"> that would:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">Raise the personal income tax exemption threshold<\/span><span style=\"font-weight:400;\"> to EGP 36k from EGP 24k;<\/span><\/li>\n<li><span style=\"font-weight:700\">Introduce a new 27.5% higher rate of tax for people earning more than EGP 1.2 mn<\/span><span style=\"font-weight:400;\"> a year;<\/span><\/li>\n<li><span>Put in place<\/span><span>a new <\/span><span style=\"font-weight:700\">5-20% \u2018entertainment tax<\/span><span>\u2019, new <\/span><span style=\"font-weight:700\">fees<\/span><span> on <\/span><span style=\"font-weight:700\">duty-free products<\/span><span>, a <\/span><span style=\"font-weight:700\">stamp tax hike<\/span><span> on <\/span><span style=\"font-weight:700\">ins<\/span><span>., and a <\/span><span style=\"font-weight:700\">10% development fee<\/span><span> on certain <\/span><span style=\"font-weight:700\">imported luxury goods<\/span><span style=\"font-weight:400;\">;<\/span><\/li>\n<li><span style=\"font-weight:700\">Slash the 10% capital gains tax to just 50% of the realized gains<\/span><span style=\"font-weight:400;\"> made from selling shares in newly-listed companies, and dropping that to 25% two years after the legislation is passed;<\/span><\/li>\n<li><span style=\"font-weight:700\">Grant an incentive worth 5% of the annual tax bill <\/span><span>to individuals who file under<\/span><span style=\"font-weight:400;\">the new e-invoicing system;<\/span><\/li>\n<li><span style=\"font-weight:700\">And allow those with annual revenues of less than EGP 10 mn<\/span><span style=\"font-weight:400;\"> to be subject to a flat-rate tax.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s next: <\/span><span style=\"font-weight:400;\">The bill will be passed to President Abdel Fattah El Sisi to sign into law.<\/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;\">DEBT WATCH-<\/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\">#1- There\u2019s some speculation that the IMF <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5ad4a99f-deb2-4803-b601-ad806b96f074\" style=\"\">could delay<\/a><\/span><span style=\"font-weight:700\"> its review of Egypt\u2019s USD 3 bn loan program<\/span><span> to <\/span><span style=\"font-weight:400;\">September to give the government more time to comply with the fund\u2019s requirements amid challenging economic headwinds, economist Ali Metwally reportedly told Al Arabiya last week. <\/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\">REMEMBER- <\/span><span>Egypt is awaiting its first review for its <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c374319e-e849-44f6-bf5a-8179fb41caf5\" style=\"\">USD 3 bn loan program<\/a><\/span><span style=\"font-weight:400;\">, which has been on hold for 2.5 months. The IMF is yet to give any indication about when we might expect IMF officials in Cairo for the staff-level review.<\/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\">#2- <\/span><span style=\"font-weight:700\">Panda bond coming next quarter:<\/span><span> The Finance Ministry expects to go ahead with its maiden USD 500 mn <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0faeb7c5-9d69-4798-95bd-246d180c9746\" style=\"\">CNY-denominated bond issuance<\/a><\/span><span style=\"font-weight:400;\"> in 3Q 2023, instead of 1Q 2023 as initially planned, due to challenging international market conditions.<\/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;\">REGULATION WATCH-<\/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\">#1-<\/span><span style=\"font-weight:700\">The FRA hiked capital requirements for non-bank lenders by 50%: <\/span><span>NBFS companies have one year to increase their paid and issued capital to EGP 75 mn to comply with the Financial Regulatory Authority\u2019s (FRA) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0a607c6f-45ef-4916-a02c-bc5eeee9cf41\" style=\"\">new capital requirements<\/a><\/span><span style=\"font-weight:400;\">. The change marks a 50% increase from the previous minimum requirement of EGP 50 mn. The new regs are designed to reduce risk in the sector and ensure non-banking financial services firms have a buffer against external financial shocks.<\/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\">#2-<\/span><span style=\"font-weight:700\">Some prepaid cards can no longer be used to make international transactions<\/span><span>, a central bank source <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/14157468-38dc-4c27-aa53-16228303e599\" style=\"\">confirmed<\/a><\/span><span> to Enterprise, after the news was reported in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3C32qGH\" style=\"\">local media<\/a><\/span><span style=\"font-weight:400;\"> and circulated widely online. The move by the central bank to stop the use of prepaid cards for foreign-currency transactions only applies to those cards that aren\u2019t linked to bank accounts, the source said \u2014 which we understand to include those issued by digital payments companies Klivvr, Nexta, and Telda.<\/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;\">INVESTMENT WATCH-<\/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\">#1- We have loads of Chinese investment interest in the SCZone:<\/span><span> The Suez Canal Economic Zone (SCZone) signed agreements with a number of Chinese companies that could see <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fcb90924-b70d-4587-b5f5-cc652d64c922\" style=\"\">more than USD 700 mn invested in projects<\/a><\/span><span style=\"font-weight:400;\"> in China\u2019s TEDA industrial zone in Ain Sokhna. <\/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\">#2- And a new Aussie phosphoric acid plant in the works:<\/span><span> An Australian consortium <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/38ae261a-d90f-485f-99d5-38e637fd018b\" style=\"\">plans to invest USD 875 mn<\/a><\/span><span style=\"font-weight:400;\"> to build a phosphoric acid plant in the Red Sea port town of Safaga. The project should have an annual production capacity of some 700k tons.<\/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;\">WHAT\u2019S HAPPENING NEXT WEEK-<\/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;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/402.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">It\u2019s the first full workweek of June<\/span><span style=\"\">, which will bring us updates on several economic <\/span><span style=\"font-weight:400;\">indicators:<\/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\">#1-<\/span><span style=\"font-weight:700\">S&P Global will release May\u2019s PMI figures on 5 June.<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9b47e2ce-e7e2-4382-9016-464a01b8d69c\" style=\"\">Last month\u2019s PMI<\/a><\/span><span style=\"font-weight:400;\"> indicated that the activity in the non-oil private sector is still in contraction as the depreciation of the EGP, high inflation, and import restrictions continued to weigh on inventories.<\/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\">#2- Capmas and the central bank should be out with May\u2019s inflation data on 8 June.<\/span><span> Inflation had <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e8b89cdc-cf1e-4a57-bcf6-75cf185240d0\" style=\"\">slowed in April<\/a><\/span><span style=\"font-family:\"Times New Roman\";font-weight:400\">t<\/span><span>hanks to a favorable base effect, the stabilization of the EGP-USD exchange rate, and a slight slowdown in food price growth. But don\u2019t expect May\u2019s inflation figures to be rosey: Price hikes are expected to accelerate again due to the government\u2019s recent decisions to hike the prices of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d7838294-91d2-44d0-950c-e2af219a8d6f\" style=\"\">diesel<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/49f88f6c-09a1-4f2c-99f0-db2e4bf962a4\" style=\"\">subsidized commodities<\/a><\/span><span style=\"font-weight:400;\"> sold to ration card holders as well as further currency weakness, analysts said earlier.<\/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\">#3- Foreign reserves:<\/span><span style=\"font-weight:400;\"> The central bank will publish foreign reserves figures for June next week.<\/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;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We could be looking at the start of a new IPO: <\/span><span>The EGX is working on listing an unnamed energy company\u2019s shares on the bourse within two weeks, with a goal of starting trading in a month or two, EGX head Ramy El Dokany told CNBC Arabia <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/3a4e229a-d542-482d-9f9b-5dde1bcf3cab\" style=\"\">last week.<\/a><\/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\">And continued action with the state\u2019s privatization drive: <\/span><span>The clock is ticking on National Investment Bank subsidiary NI Capital\u2019s plans to complete stake sales in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e4c4fcd-97f0-4e30-b9c3-d7ca9c0a66d6\" style=\"\">two state-owned companies<\/a><\/span><span style=\"font-weight:400;\"> before the end of the government\u2019s fiscal year in June. Under this schedule, NI Capital has about four weeks to complete one more sale after it finalized its 10% stake sale in Telecom Egypt (TE) last week. Companies in the pipeline include those hailing from the oil, petrochemicals or transport sectors.<\/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 Senate will reconvene on Sunday: <\/span><span>The FY 2023-2024 socioeconomic development plan approved by House and Senate economic committees <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5599cccd-54d2-4e0f-b43e-1f9807367a4c\" style=\"\">last week<\/a><\/span><span style=\"font-weight:400;\"> could be up for discussion and a vote. <\/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 National Dialogue will also resume on Sunday<\/span><span> after a week-long break. <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/National.Dialogue.NTA\/posts\/pfbid02HLLXaH731MiDd8sSXUnRZg7AFbJAMuQhtQJSVmNCpjG96YqinT24LsL5ouacLVzul\" style=\"\">Sunday\u2019s session<\/a><\/span><span style=\"font-weight:400;\"> will see a proposed Freedom of Information Act up for discussion, followed by two more sessions throughout the week where participants will continue to discuss a number of political, economic, and social challenges. <\/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\">Further afield, OPEC+ will meet in Vienna, Austria <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/www.reuters.com\/business\/energy\/opec-hold-june-policy-meeting-person-sources-2023-05-03\/\" style=\"\">on Sunday<\/a><\/span><span style=\"font-weight:400;\"> where the bloc is expected to discuss oil production cuts.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;font-weight:700;\"><a href=\"https:\/\/enterprise.press\/am-edition\/#calendar\" style=\"\">Check out our full calendar on the web<\/a><\/span><span style=\"font-weight:400;\"> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/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;\">YOUR MOST CLICKED LINKS-<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:700\">The new raft of taxes MPs approved last week seemed to be on everyone\u2019s minds<\/span><span>, with most of you looking at earlier Enterprise stories on the tax changes. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d50d35d1-3aeb-45a0-bd26-02a55934eb07\" style=\"\">Enterprise<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/57ae47d8-33eb-484e-9908-ac47ec53f363\" style=\"\">Enterprise<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">A lot of you were curious about our new state privatization program advisor<\/span><span>, Mahmoud El Sakka. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/mahmoud-el-sakka-2b549311\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">Edita\u2019s acquisition of frozen bakery producer Fancy Foods <\/span><span>also got some attention. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/5\/1602.pdf\" style=\"\">Statement<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">Former deputy Prime Minister Ziad Bahaa El Din\u2019s op-ed on the urgency of implementing Egypt's economic reform agenda<\/span><span> got a lot of clicks. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.ft.com\/content\/b5bec0d9-7aac-4182-b908-06f35176097a\" style=\"\">Financial Times<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<li><span style=\"font-weight:700\">Credit Suisse\u2019s forecast of a large fall in the EGP exchange rate to 45-50<\/span><span> against the greenback also turned heads. (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/50790\/%D9%83%D8%B1%D9%8A%D8%AF%D9%8A-%D8%B3%D9%88%D9%8A%D8%B3-%D9%8A%D8%B9%D9%85%D9%82-%D8%AA%D8%B4%D8%A7%D8%A4%D9%85%D9%87-%D9%84%D9%85%D8%B5%D8%B1-%D9%88%D9%8A%D8%AA%D9%88%D9%82%D8%B9-%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D8%A7%D9%84%D8%AC%D9%86%D9%8A%D9%87-%D9%84%D9%85%D8%B3%D8%AA%D9%88%D9%89-%D9%82%D9%8A%D8%A7%D8%B3%D9%8A\/\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\">)<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n          Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n        <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>     <a href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>\n    <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">AROUND THE WORLD IN SEVEN DAYS- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/13.jpg?ssl=1\"\/><\/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 US debt ceiling debacle is (nearly) over<\/span><span style=\"\">, after lawmakers in the House approved the <\/span><span style=\"font-weight:400;\">agreement to raise the debt ceiling to allow the country to avoid a default. The bill cleared the GOP-controlled chamber 314-117 despite vocal opposition among a contingent of Republican lawmakers, and is now pending President Joe Biden\u2019s ratification before 5 June. <\/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\">In Turkey: Turkish President Recep Tayyip Erdogan secured his third term in office<\/span><span> after Erdogan defeated opposition candidate Kemal Kilicdarogluin in a run-off vote. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">ENTERPRISE IS LOOKING FOR SMART, TALENTED PEOPLE of all backgrounds to help us build some very cool new things.<\/span><span style=\"font-weight:400;\"> Enterprise \u2014 the essential morning read on all the important news shaping business and the economy in Egypt and the region \u2014 is looking for writers, reporters and editors to help us build out new publications. Today, we run four daily Egypt and MENA-focused publications, five weekly industry verticals, and a weekend lifestyle edition designed to make our readers feel just a bit smarter.<\/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\">We have tons more in the pipeline \u2014 come help us build new publications.<\/span><span style=\"font-weight:400;\"> We offer the chance to work in a fast-paced newsroom on a broad range of topics and in a variety of formats. Our goal is simple: To create value for our growing community of >250k daily readers by telling stories that matter.<\/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;\">Journalists looking to explore business, finance and economic stories are welcome. So are recent journalism school graduates.<\/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\">That said, we're looking for gifted story-tellers from all walks of life and across all professions<\/span><span style=\"font-weight:400;\">, as long as they show a keen interest in learning to write about the stories, topics, businesses, and figures moving markets. Egyptian and foreign nationals alike are welcome to apply. So are job-switchers: If you\u2019re an equities analyst tired of the rat race, we\u2019re a great place to come work.<\/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\">NEVER WORKED IN A NEWSROOM BEFORE?<\/span><span style=\"font-weight:400;\"> We have the Enterprise Business Writing Development Program. Whether you are a recent graduate, an industry vet, or looking to switch careers, the Enterprise Business Writing Development Program will give you the tools you need to tell the most important stories to our audience of C-suite officials, government ministers, diplomats, financiers, investors and entrepreneurs.<\/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;\">During the program you will learn:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight:400;\">The key news stories and trends shaping business and the economy in Egypt and the region, across various sectors;<\/span><\/li>\n<li><span style=\"font-weight:400;\">Business and finance for non-finance people: Whether it's industry jargon or key concepts or simply how to read a balance sheet;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to construct an Enterprise story: From idea formulation down to the structure, style and tone of writing;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to develop sources that will give you the key insights needed to tell a complete story;<\/span><\/li>\n<li><span style=\"font-weight:400;\">How to communicate these stories with the confidence and language of an insider.<\/span><\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Not an internship program \u2014 a career:<\/span><span style=\"font-weight:400;\"> The three-month program will see full-time, paid participants take part in workshops and lectures from veteran business journalists, while also working on and filing stories that will run on any of our publications. Those who have successfully completed the program, will then be given long-term job offers.<\/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\">Apply directly to jobs@enterprisemea.com and mention \u201cwriting development program\u201d<\/span><span> in your subject line.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, ladies and gentlemen. We hope you survived yesterday\u2019s sandstorm and that your weekend plans are all indoors. Eat your heart out, Mad Max: Photos of massive dust clouds and yellow skies, reports of trees falling on cars, and of a billboard falling and disrupting traffic on the 6th of October Bridge were everywhere [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":587872,"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":[7287],"tags":[7106,6653,125,587,69,6654],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-week-in-review","tag-debt","tag-enterprise-weekend","tag-investment-watch","tag-state-privatization-program","tag-tax","tag-the-week-in-review","wpautop","entry"],"acf":{"mongo_id":"1f29ee4a-1b5c-43c7-b513-df7cbe272fa7","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/6\/35.JPG","photo_position":"above","homepage_title":"","full_issue_title":"The new tax changes dominated headlines last week + New month, new macro indicators","related_issue":[587869],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.73997359-73ff-4904-b336-f2ace5243cef.mp3"},"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>The new tax changes dominated headlines last week + New month, new macro indicators - 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\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The new tax changes dominated headlines last week + New month, new macro indicators\" \/>\n<meta property=\"og:description\" content=\"Good morning, ladies and gentlemen. We hope you survived yesterday\u2019s sandstorm and that your weekend plans are all indoors. Eat your heart out, Mad Max: Photos of massive dust clouds and yellow skies, reports of trees falling on cars, and of a billboard falling and disrupting traffic on the 6th of October Bridge were everywhere [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-02T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"The new tax changes dominated headlines last week + New month, new macro indicators\",\"datePublished\":\"2023-06-02T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\"},\"wordCount\":1872,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1\",\"keywords\":[\"debt\",\"Enterprise Weekend\",\"investment watch\",\"state privatization program\",\"tax\",\"THE WEEK IN REVIEW\"],\"articleSection\":[\"THE WEEK IN REVIEW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\",\"name\":\"The new tax changes dominated headlines last week + New month, new macro indicators - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1\",\"datePublished\":\"2023-06-02T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The new tax changes dominated headlines last week + New month, new macro indicators\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The new tax changes dominated headlines last week + New month, new macro indicators - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/","og_locale":"en_US","og_type":"article","og_title":"The new tax changes dominated headlines last week + New month, new macro indicators","og_description":"Good morning, ladies and gentlemen. We hope you survived yesterday\u2019s sandstorm and that your weekend plans are all indoors. Eat your heart out, Mad Max: Photos of massive dust clouds and yellow skies, reports of trees falling on cars, and of a billboard falling and disrupting traffic on the 6th of October Bridge were everywhere [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2023-06-02T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"The new tax changes dominated headlines last week + New month, new macro indicators","datePublished":"2023-06-02T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/"},"wordCount":1872,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1","keywords":["debt","Enterprise Weekend","investment watch","state privatization program","tax","THE WEEK IN REVIEW"],"articleSection":["THE WEEK IN REVIEW"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/","url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/","name":"The new tax changes dominated headlines last week + New month, new macro indicators - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1","datePublished":"2023-06-02T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/02\/the-new-tax-changes-dominated-headlines-last-week-new-month-new-macro-indicators\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"The new tax changes dominated headlines last week + New month, new macro indicators"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/35.JPG?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":598547,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/28\/state-council-to-complete-reviewing-customs-and-smes-acts-this-week\/","url_meta":{"origin":587871,"position":0},"title":"State Council to complete reviewing customs and SMEs acts this week","author":"enterpriseam admin","date":"28 May 2019","format":false,"excerpt":"LEGISLATION WATCH- Maglis El Dawla to finalize review of draft customs and SMEs acts this week: The Council of State (Maglis El Dawla) is expected to finish reviewing the draft customs and SMEs acts this week and send them to Cabinet before Eid El Fitr, the local press reports. Sources\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\/5\/939.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":664200,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/24\/govt-to-replace-long-list-of-fees-with-single-unified-tax\/","url_meta":{"origin":587871,"position":1},"title":"Gov\u2019t to replace long list of fees with single unified tax","author":"enterpriseam admin","date":"24 April 2025","format":false,"excerpt":"Good morning, friends, and a happy long weekend to you all. After an abridged week with an unabridged news cycle, we\u2019re looking forward to winding down with cooler weather for the next couple of days.Our city has a thousand corners waiting for the one thing most of us rarely give\u2026","rel":"","context":"In &quot;THE WEEK IN REVIEW&quot;","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/4\/1544.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599733,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/09\/tax-authority-not-looking-to-impose-10-capital-gains-tax-on-all-egypts-corporates\/","url_meta":{"origin":587871,"position":2},"title":"Tax Authority not looking to impose 10% capital gains tax on all Egypt\u2019s corporates","author":"enterpriseam admin","date":"9 January 2019","format":false,"excerpt":"EXCLUSIVE- Tax Authority not looking to impose 10% capital gains tax on all corporates: The Tax Authority is not planning to impose an across-the-board 10% capital gains tax on all corporates, authority head Abdel Azim Hussein tells Enterprise. According to Hussein, the proposed amendments to the Income Tax Act that\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":582572,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/10\/lots-of-macro-privatization-and-fdi-updates-sczone-officials-are-heading-to-vietnam-next-week\/","url_meta":{"origin":587871,"position":3},"title":"Lots of macro, privatization and FDI updates + SCZone officials are heading to Vietnam next week","author":"enterpriseam admin","date":"10 March 2023","format":false,"excerpt":"Good morning, nice people, and happy FRIDAY. Ramadan is officially less than two weeks away, so we\u2019re cherishing the last days of morning coffee and nice, big Friday breakfasts \u2014 we hope you are too.Enterprise Weekend comes out each Friday at 9:00am CLT. We\u2019ll be back on Sunday at 6am\u2026","rel":"","context":"In &quot;THE WEEK IN REVIEW&quot;","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Earnings-counting-money-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543008,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/egypts-finance-ministry-to-revisit-real-estate-tax-on-factories\/","url_meta":{"origin":587871,"position":4},"title":"Egypt\u2019s Finance Ministry to revisit real estate tax on factories?","author":"enterpriseam admin","date":"30 January 2022","format":false,"excerpt":"The Finance Ministry has reportedly pledged to review the real estate tax on factories, AlBorsa quotes Egyptian Federation of Investors Association (EFIA) head Mahram Hilal as saying. Factories have for years been vying for an exemption from real estate tax to allow them to pay off high production costs without\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650654,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/29\/what-were-tracking-this-week-202\/","url_meta":{"origin":587871,"position":5},"title":"What we\u2019re tracking this week","author":"enterpriseam admin","date":"29 March 2017","format":false,"excerpt":"If you\u2019re filing taxes as a private citizen, you need to submit your tax return before the end of the week: The Tax Authority said it is extending its working hours to 8 pm nationwide until the end of the week. The head of the authority says the extension is\u2026","rel":"","context":"In &quot;What We\u2019re Tracking This Week&quot;","block_context":{"text":"What We\u2019re Tracking This Week","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-this-week\/"},"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\/587871","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=587871"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/587871\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/weekend\/587869"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/587872"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=587871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=587871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=587871"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=587871"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=587871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}