{"id":596078,"date":"2023-08-10T00:00:00","date_gmt":"2023-08-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/property-ids-public-companies-mud-tax-more-at-the-weekly-cabinet-meeting\/"},"modified":"2023-08-10T00:00:00","modified_gmt":"2023-08-10T00:00:00","slug":"property-ids-public-companies-mud-tax-more-at-the-weekly-cabinet-meeting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/10\/property-ids-public-companies-mud-tax-more-at-the-weekly-cabinet-meeting\/","title":{"rendered":"Property IDs, public companies, mud tax + more at the weekly cabinet meeting"},"content":{"rendered":"

Draft decisions on building IDs, land tax, public asset sales + African finance: <\/strong>In its weekly meeting yesterday, the cabinet approved draft legislation to give properties unique digital IDs, as well as to help public enterprises more efficiently cut their losses by selling unprofitable assets, it said in a statement<\/a>. The meeting also agreed to allow the country to join two new Africa-wide development finance institutions, and to extend the suspension of the so-called \u2018mud tax\u2019 for another year. <\/p>\n

Property IDs: <\/strong>The cabinet approved a draft law that would give each property a unique digital ID on a centralized government database, the statement reads. The government would issue ID cards or plates for each property and issue penalties to anyone who removes or otherwise tampers with the ID plates. This is part of the government\u2019s push to build a comprehensive property inventory and crack down on wildcat building<\/a>. <\/p>\n

Helping public enterprise companies cut their losses: <\/strong>Amendments to the executive regulations of the 1991 public enterprise companies law were also approved that lay out how public enterprises can go about selling unprofitable production lines. <\/p>\n

No mud tax for another year: <\/strong>The cabinet also greenlit the suspension of the 14% agriculture land tax (AKA mud tax) for an additional year<\/a> starting from 1 August, the statement reads. The tax has been suspended since 2017. <\/p>\n

Joining the Africa50 infrastructure investment platform: <\/strong> The government also approved two presidential decrees allowing Egypt to join the African Development Bank\u2019s (AfDB) Africa50 for Project Development and Africa50 for Project Financing<\/a>. The project development side aims to invest capital in the early stages of projects, while the project financing side aims to develop infrastructure in African countries by mobilizing funding from diverse sources.<\/p>\n","protected":false},"excerpt":{"rendered":"

Every property could be in line for a unique digital ID<\/p>\n","protected":false},"author":1,"featured_media":596079,"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":[7306],"tags":[8941,1376,97,282,72,1350,83,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-africa50","tag-african-development-bank","tag-agriculture","tag-cabinet-watch","tag-enterpriseam","tag-madbouly-cabinet","tag-real-estate","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"e2780d8b-88b3-445d-80b1-18e522119bf2","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/488.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Property IDs, public companies, mud tax + more at the Egyptian cabinet\u2019s weekly meeting","related_issue":[596071],"teaser":"Every property could be in line for a unique digital ID","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.8926fe5f-7289-47d1-b1cc-11ca24c9b83f.mp3"},"yoast_head":"\nProperty IDs, public companies, mud tax + more at the weekly cabinet meeting - 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The draft will 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\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577488,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/24\/cabinet-approves-plans-for-ip-authority\/","url_meta":{"origin":596078,"position":3},"title":"Cabinet approves plans for IP Authority","author":"enterpriseam admin","date":"24 November 2022","format":false,"excerpt":"Ministers approved a draft bill that would establish the Egyptian Intellectual Property Authority, a public body to regulate and protect intellectual property rights in the country, cabinet said in a statement following its weekly meeting yesterday.The authority is key to the government\u2019s new five-year intellectual property strategy which was announced\u2026","rel":"","context":"In "Cabinet watch"","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/384.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570877,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/egypts-cabinet-approves-income-tax-breaks-other-decisions-in-weekly-meeting\/","url_meta":{"origin":596078,"position":4},"title":"Egypt\u2019s Cabinet approves income tax breaks, other decisions in weekly meeting","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"CABINET WATCH- Cabinet approves income tax breaks: The Madbouly cabinet greenlit in its weekly meeting on Thursday proposed amendments to the Income Tax Act that would, if approved by the House of Representatives, exempt employees making less than EGP 22k a year from paying income tax. Besides raising the tax\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\/2020\/4\/165.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561441,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/cabinet-approves-draft-bill-to-regulate-fintech-industry\/","url_meta":{"origin":596078,"position":5},"title":"Cabinet approves draft bill to regulate fintech industry","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"The draft law that will govern the fintech space received approval from the Madbouly cabinet in its weekly meeting yesterday, cabinet said in a statement. 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