{"id":589965,"date":"2023-07-11T00:00:00","date_gmt":"2023-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/this-evening-parliament-signs-off-on-a-raft-of-bills-including-scrapping-tax-exemptions-for-state-entities\/"},"modified":"2023-07-11T00:00:00","modified_gmt":"2023-07-11T00:00:00","slug":"this-evening-parliament-signs-off-on-a-raft-of-bills-including-scrapping-tax-exemptions-for-state-entities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/this-evening-parliament-signs-off-on-a-raft-of-bills-including-scrapping-tax-exemptions-for-state-entities\/","title":{"rendered":"THIS EVENING: Parliament signs off on a raft of bills, including scrapping tax exemptions for state entities"},"content":{"rendered":"

Good afternoon, friends, and happy hump day.<\/span> We have a legislation-heavy day with which<\/span> to mark the week\u2019s midpoint, while all eyes are on Prime Minister Moustafa Madbouly, who\u2019s expected to begin his privatization presser any minute now. <\/span><\/p>\n

THE BIG STORY TODAY-<\/span><\/p>\n

<\/span>The House had a busy day:<\/span> The House of Representatives signed off today on<\/span> several bills, including a bill that will eliminate tax exemptions \u2014 including customs and real estate tax exemptions \u2014 that were previously granted to some state entities, according to <\/span>a House statement<\/a><\/span>. Parliament also gave its final approval in today\u2019s plenary session to seven other bills, including amendments to the Investment Act that will allow projects predating the 2017 bill to benefit from its incentives; a bill to <\/span>establish an Intellectual Property Authority<\/a><\/span>; and a bill allowing the Suez Canal Economic Zone to hand a 30-year contract to Sky Logistics to design, construct, manage, operate, and maintain a <\/span>new multi-purpose terminal<\/a><\/span> at the East Port Said Port. <\/span><\/p>\n

THE BIG STORY ABROAD-<\/span><\/p>\n

Ukraine\u2019s fight for their NATO membership is continuing to lead the conversation in the<\/span> international press. <\/span>After a speech that promised Kyiv to be invited to the alliance with no time frame indicated, Volodymyr Zelensky issued a written statement rebutting the tempo of Ukraine\u2019s admittance to the military alliance, saying that Ukraine\u2019s survival against Russia relies on its membership. <\/span>Reuters<\/a><\/span> | <\/span>BBC<\/a><\/span> | <\/span>CNBC<\/a><\/span> | <\/span>Wall Street Journal<\/a><\/span> | <\/span>Financial Times<\/a><\/span><\/p>\n

HAPPENING THIS WEEK-<\/span><\/p>\n

OECD parties debate tax plan targeting multinationals:<\/span> Representatives from over 130<\/span> nations are at the OECD\u2019s Paris headquarters for three days of talks to settle disagreements on a landmark tax plan targeting multinational companies, the <\/span>Financial Times<\/a><\/span>reports. The plan seeks to levy taxes on the world\u2019s largest 100 companies \u2014 including Tech giants Google, Facebook, and Amazon \u2014 in countries where they make sales rather than where they have physical offices. While the plan is backed by the world\u2019s biggest economies, it has been held back by delays and opposition from emerging markets.<\/span><\/p>\n

The opposition: <\/span>Some developing countries, including India and Sri Lanka, worry that the arrangement will impinge on revenues, partially because the biggest multinationals make more sales in richer countries. The plan is also opposed by Republicans, meaning that it may not win the two-thirds majority Senate vote it needs to get ratified in the US.<\/span><\/p>\n

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** CATCH UP QUICK<\/span> on the top stories from today\u2019s <\/span>EnterpriseAM<\/span>:<\/span><\/p>\n