{"id":595369,"date":"2019-09-24T04:40:59","date_gmt":"2019-09-24T04:40:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/"},"modified":"2019-09-24T04:40:59","modified_gmt":"2019-09-24T04:40:59","slug":"egypt-finishes-initial-draft-of-new-income-tax-law","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/","title":{"rendered":"Egypt finishes initial draft of new income tax law"},"content":{"rendered":"

<\/a> LEGISLATION WATCH-<\/b> Initial draft of new income tax law ready: <\/b>The Finance Ministry has completed incorporating suggestions from the business community and finalized an initial draft of a new income tax law, Minister Mohamed Maait said yesterday during the Future of Investment in Egypt conference, according to a ministry statement<\/a>. The draft will now be up for public consultations before making its way to Cabinet for approval. Once approved, it will then 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 enact any changes to income tax rates.<\/p>\n

Background: <\/b>We reported in May<\/a> that the government began drafting significant changes to the Income Tax Act that may be extensive enough to require a new legislation. The new legislation is expected to impact how tax appeals are handled, the ministry\u2019s internal tax committees, and the procedures for filing tax returns, Tax Authority boss Abdel Azim Hussein told us. It would also include introducing a new chapter in the tax code for the treatment of online businesses, new powers to combat tax evasion, and a review of how tax incentives are structured.<\/p>\n

Manufacturers to get \u201cpreferential treatment\u201d in Real Estate Tax Act: <\/b>Separately, new real estate tax act would see manufacturers receive \u201cpreferential treatment,\u201d Maait also said at the conference, according to the ministry statement. Factory owners had voiced concerns over the current real estate tax system, which imposes taxes on idle industrial land, according to Al Shorouk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Initial draft of new income tax law ready: The Finance Ministry has completed incorporating suggestions from the business community and finalized an initial draft of a new income tax law, Minister Mohamed Maait said yesterday during the Future of Investment in Egypt conference, according to a ministry statement. The draft will now be […]<\/p>\n","protected":false},"author":1,"featured_media":595370,"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":[72,884,180,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-income-tax-act","tag-legislation","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"3d0764f8-bec4-4c9d-810a-a7a066ebc14e","is_powered_by":true,"section_story_id":"6b666112-20d5-4e4a-ae9e-084602ce5c56","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/615.jpg","photo_position":"above","related_issue":[595357],"teaser":"","voice_url":""},"yoast_head":"\nEgypt finishes initial draft of new income tax law - 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\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt finishes initial draft of new income tax law\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Initial draft of new income tax law ready: The Finance Ministry has completed incorporating suggestions from the business community and finalized an initial draft of a new income tax law, Minister Mohamed Maait said yesterday during the Future of Investment in Egypt conference, according to a ministry statement. The draft will now be […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-24T04:40:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/615.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=\"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\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt finishes initial draft of new income tax law\",\"datePublished\":\"2019-09-24T04:40:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\"},\"wordCount\":270,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/9\/615.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"income tax act\",\"legislation\",\"SPEED ROUND\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/09\/24\/egypt-finishes-initial-draft-of-new-income-tax-law\/\",\"name\":\"Egypt finishes initial draft of new income tax law - 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The ministry placed the draft up on its website to invite public comment\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":627388,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/31\/finmin-looks-into-drafting-a-new-income-tax-act\/","url_meta":{"origin":595369,"position":1},"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. It has become necessary to thoroughly update the current Income Tax Act, which is now\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":647362,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/09\/finance-ministry-sends-income-tax-law-amendments-to-house-economics-committee\/","url_meta":{"origin":595369,"position":2},"title":"Finance Ministry sends Income Tax Law amendments to House Economics Committee","author":"enterpriseam admin","date":"9 May 2017","format":false,"excerpt":"The Finance Ministry has finished drafting amendments to the Income Tax Law and sent them to the House of Representatives\u2019 Economics Committee for discussion before preparing a final draft for the Ismail cabinet, Al Shorouk reports. The ministry had announced in March its plans to create what it called a\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":634805,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/24\/cabinet-approves-amendments-to-income-tax-law-draft-law-regulating-billboards\/","url_meta":{"origin":595369,"position":3},"title":"Cabinet approves amendments to Income Tax Law, draft law regulating billboards","author":"enterpriseam admin","date":"24 January 2018","format":false,"excerpt":"CABINET WATCH- The Ismail Cabinet approved yesterday amendments to the Income Tax Law to facilitate procedures for submitting tax declaration forms, according to an official statement. The new procedures will grant a 60-day window after declaration forms are submitted to the Tax Authority for citizens to submit the remaining necessary\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":675720,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/18\/finmin-to-introduce-a-new-income-tax-law-next-year\/","url_meta":{"origin":595369,"position":4},"title":"FinMin to introduce a new income tax law next year","author":"enterpriseam admin","date":"18 November 2025","format":false,"excerpt":"A draft will be presented for community dialogue in preparation for its referral to the House","rel":"","context":"In "Tax"","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2510.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601591,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/05\/egypts-taxpayers-concerned-over-harsh-penalties-in-draft-law-on-tax-procedures\/","url_meta":{"origin":595369,"position":5},"title":"Egypt\u2019s taxpayers concerned over harsh penalties in draft law on tax procedures","author":"enterpriseam admin","date":"5 March 2019","format":false,"excerpt":"EXCLUSIVE- FinMin to ease tax violation penalties under draft tax procedures law: The Finance Ministry has agreed to amend the draft law on new unified tax procedures amid concerns from taxpayers over harsh violation penalties, a government source tells Enterprise. 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