{"id":593526,"date":"2019-10-01T04:00:52","date_gmt":"2019-10-01T04:00:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/"},"modified":"2019-10-01T04:00:52","modified_gmt":"2019-10-01T04:00:52","slug":"fei-suggests-amendments-to-income-tax-act","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/","title":{"rendered":"FEI suggests amendments to Income Tax Act"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- FEI suggests changes to Income Tax Act:<\/b> The Federation of Egyptian Industries (FEI) is lobbying the Finance Ministry for changes to the Income Tax Act, the local press reported<\/a>. Among the amendments is a proposal to give a tax cut to low income earners by tripling the tax exemption threshold to EGP 24k from EGP 8k currently. The FEI wants to amend residency rules for corporate tax purposes and redefine what it means for individuals or entities to have a \u201cclose relationship\u201d with a company. It also wants to ensure that all e-commerce companies are brought into the tax base.<\/p>\n

Background: <\/b>The government began drafting significant changes to the Income Tax Act in May<\/a>, which are expected to impact how tax appeals are handled, the ministry\u2019s internal tax committees, and the procedures for filing tax returns. The government said last month<\/a> it had incorporated suggestions from the business community and finalized an initial draft of a new income tax law that it was ready to put up for public consultations before going to Cabinet for approval. Once approved, the draft will be handed over to the House of Representatives for a discussion and a final vote before getting signed into law by the president. Maait said in July<\/a> that the new law would not make any changes to income tax rates.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- FEI suggests changes to Income Tax Act: The Federation of Egyptian Industries (FEI) is lobbying the Finance Ministry for changes to the Income Tax Act, the local press reported. Among the amendments is a proposal to give a tax cut to low income earners by tripling the tax exemption threshold to EGP 24k […]<\/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":[72,916,884,180,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593526","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-federation-of-egyptian-industries","tag-income-tax-act","tag-legislation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ce34e89a-4ebc-47ba-a515-28af49e40694","is_powered_by":true,"section_story_id":"e3c6ceb7-e20a-4ed2-b37a-040660ebf5d1","story_type":"1","photo_url":"","photo_position":"above","related_issue":[593506],"teaser":"","voice_url":""},"yoast_head":"\nFEI suggests amendments to Income Tax Act - 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\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FEI suggests amendments to Income Tax Act\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- FEI suggests changes to Income Tax Act: The Federation of Egyptian Industries (FEI) is lobbying the Finance Ministry for changes to the Income Tax Act, the local press reported. Among the amendments is a proposal to give a tax cut to low income earners by tripling the tax exemption threshold to EGP 24k […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-01T04:00:52+00:00\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FEI suggests amendments to Income Tax Act\",\"datePublished\":\"2019-10-01T04:00:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\"},\"wordCount\":231,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Federation of Egyptian Industries\",\"income tax act\",\"legislation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\",\"name\":\"FEI suggests amendments to Income Tax Act - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2019-10-01T04:00:52+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FEI suggests amendments to Income Tax Act\"}]},{\"@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":"FEI suggests amendments to Income Tax Act - 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\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/","og_locale":"en_US","og_type":"article","og_title":"FEI suggests amendments to Income Tax Act","og_description":"LEGISLATION WATCH- FEI suggests changes to Income Tax Act: The Federation of Egyptian Industries (FEI) is lobbying the Finance Ministry for changes to the Income Tax Act, the local press reported. Among the amendments is a proposal to give a tax cut to low income earners by tripling the tax exemption threshold to EGP 24k […]","og_url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2019-10-01T04:00:52+00:00","author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"FEI suggests amendments to Income Tax Act","datePublished":"2019-10-01T04:00:52+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/"},"wordCount":231,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"keywords":["EnterpriseAM","Federation of Egyptian Industries","income tax act","legislation","SPEED ROUND"],"articleSection":["Speed Round"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/","url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/","name":"FEI suggests amendments to Income Tax Act - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"datePublished":"2019-10-01T04:00:52+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/fei-suggests-amendments-to-income-tax-act\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"FEI suggests amendments to Income Tax Act"}]},{"@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":null,"featured_image_src_square":null,"author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":602273,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/24\/fei-pushing-for-taxation-on-profit-instead-of-revenue-in-universal-healthcare-act\/","url_meta":{"origin":593526,"position":0},"title":"FEI pushing for taxation on profit instead of revenue in Universal Healthcare Act","author":"enterpriseam admin","date":"24 March 2019","format":false,"excerpt":"Business lobby proposes 1% surtax on net profit to fund healthcare system: The Federation of Egyptian Industries Tax and Customs Committee has proposed to the Finance Ministry an amendment to the Universal Healthcare Act that would see companies taxed 1% of profit rather than revenue, Youm7 reported. A government official\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":652881,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/22\/finance-ministry-will-not-taxation-minimum-income\/","url_meta":{"origin":593526,"position":1},"title":"Finance Ministry will not taxation minimum income","author":"enterpriseam admin","date":"22 January 2017","format":false,"excerpt":"Speaking of taxes, parliament and the government appear to not see eye to eye on raising the minimum annual income to be taxed to EGP 23,000 from EGP 13,500 (surprise, surprise). Deputy Finance Minister Amr El Monayer denied the ministry was preparing a draft to amend the Income Law to\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":594706,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/cairo-chamber-of-commerce-to-suggest-changes-to-vat-income-tax-laws\/","url_meta":{"origin":593526,"position":2},"title":"Cairo Chamber of Commerce to suggest changes to VAT, income tax laws","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"The Cairo Chamber of Commerce held yesterday a meeting to discuss suggestions it is looking to hand over to the government on proposed amendments to the VAT Tax Act and the planned new Income Tax Act, Al Mal reports. Heads of the chamber\u2019s divisions are looking at proposals that would\u2026","rel":"","context":"In "Legislation + Policy"","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"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":593526,"position":3},"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 "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":593755,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/09\/finmin-federation-of-egyptian-industries-committee-finalize-new-income-tax-act\/","url_meta":{"origin":593526,"position":4},"title":"FinMin, Federation of Egyptian Industries committee finalize new Income Tax Act","author":"enterpriseam admin","date":"9 October 2019","format":false,"excerpt":"EXCLUSIVE- FinMin\u2019s new Income Tax Act would look to close loopholes enjoyed by multinationals, fully bring digital economy into the fold: The Finance Ministry is planning to introduce amendments to the tax code that would make it harder for foreign companies to sidestep Egyptian taxes, according to a copy of\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\/2019\/2\/2118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":625378,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/02\/fei-tax-committee-lays-out-its-recommendation-on-the-new-customs-act-on-wednesday\/","url_meta":{"origin":593526,"position":5},"title":"FEI tax committee lays out its recommendation on the new Customs Act on Wednesday","author":"enterpriseam admin","date":"2 August 2018","format":false,"excerpt":"The Federation of Egyptian Industries\u2019 (FEI) tax committee has laid out its recommendations and reservations on the Finance Ministry\u2019s draft of a new Customs Act, Youm7 reports. These appear to be minimal, with its major concerns boiling down to ensuring compliance of the law to the Investment Act, clearly defining\u2026","rel":"","context":"In "Legislation + Policy"","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"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\/593526","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=593526"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593526\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593506"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593526"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593526"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}