{"id":597200,"date":"2019-07-18T04:21:41","date_gmt":"2019-07-18T04:21:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/"},"modified":"2019-07-18T04:21:41","modified_gmt":"2019-07-18T04:21:41","slug":"egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/","title":{"rendered":"Egypt\u2019s exporters have four new ways to claim their overdue payments"},"content":{"rendered":"

<\/a> Exporters now have four new ways through which to claim their overdue payments from the Export Subsidy Fund<\/b>, according to a letter from the Trade Ministry seen by the press<\/a>. Under the new framework, exporters could receive discounts on their obligations to the electricity, oil, and investment ministries and claim redeemable IOUs from the Finance Ministry. They will also be given the option of receiving bank loans with interest paid for by the ministry, or acquiring land designated for agriculture or administrative use and\/or industrial or commercial development. These payout options are new alternatives offered alongside tax breaks, which the exporters are waiting to receive more clarity as part of a new framework that could see the government make good on overdue export subsidy payments.<\/p>\n

Background: <\/b>Making good on the overdue payments will come as part of a larger export subsidies framework<\/a> that will see the government set aside EGP 6 bn annually in its budget. We were expecting more details as the fund\u2019s board of directors met at the start of this week<\/a>. Egyptian exporters claim they are owed up to EGP 12 bn<\/a> since last year under a promise from the fund to pay out cash-based export subsidies. After repeated attempts by the exports council to reclaim the arrears, the fund\u2019s board agreed to a new strategy<\/a> which feature tax breaks as a way to reimburse the exporters. The finance and trade ministries then held meetings to discuss netting overdue subsidies off against the exporters due taxes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Exporters now have four new ways through which to claim their overdue payments from the Export Subsidy Fund, according to a letter from the Trade Ministry seen by the press. Under the new framework, exporters could receive discounts on their obligations to the electricity, oil, and investment ministries and claim redeemable IOUs from the Finance […]<\/p>\n","protected":false},"author":1,"featured_media":597201,"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":[72,332,100,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-export-subsidy-fund","tag-policy","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"57f97b4c-6a9c-4889-94f9-69d8464d66ba","is_powered_by":true,"section_story_id":"9faec0c8-dbfa-41ca-bc59-59384f4687e2","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/776.jpg","photo_position":"above","related_issue":[597188],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s exporters have four new ways to claim their overdue payments - 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\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s exporters have four new ways to claim their overdue payments\" \/>\n<meta property=\"og:description\" content=\"Exporters now have four new ways through which to claim their overdue payments from the Export Subsidy Fund, according to a letter from the Trade Ministry seen by the press. Under the new framework, exporters could receive discounts on their obligations to the electricity, oil, and investment ministries and claim redeemable IOUs from the Finance […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-18T04:21:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/776.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\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s exporters have four new ways to claim their overdue payments\",\"datePublished\":\"2019-07-18T04:21:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\"},\"wordCount\":262,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/776.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"export subsidy fund\",\"policy\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/18\/egypts-exporters-have-four-new-ways-to-claim-their-overdue-payments\/\",\"name\":\"Egypt\u2019s exporters have four new ways to claim their overdue payments - 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The\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":568679,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/30\/madbouly-directs-officials-to-speed-up-overdue-payments-for-egyptian-exporters\/","url_meta":{"origin":597200,"position":1},"title":"Madbouly directs officials to speed up overdue payments for Egyptian exporters","author":"enterpriseam admin","date":"30 January 2020","format":false,"excerpt":"Madbouly directs officials to speed up overdue export subsidy payments: Larger exporters will receive an additional 10% of their outstanding export subsidy dues and smaller companies owed less than EGP 5 mn will get their dues paid in full, under a decision taken yesterday by Prime Minister Moustafa Madbouly. The\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\/1\/768.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":592690,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/egypt-gives-exporters-egp-600-mn-in-tax-breaks-to-settle-overdue-subsidies\/","url_meta":{"origin":597200,"position":2},"title":"Egypt gives exporters EGP 600 mn in tax breaks to settle overdue subsidies","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"FinMin gives exporters EGP 600 mn in tax breaks to settle overdue subsidies: The Finance Ministry has settled EGP 600 mn in overdue export subsidies in the past three months via providing tax breaks, Vice Finance Minister Ahmed Kouchouk said. The ministry received some 60 requests from companies looking 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":599940,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/15\/finance-ministry-mulling-alternative-solutions-to-overdue-export-subsidy-funds\/","url_meta":{"origin":597200,"position":3},"title":"Finance Ministry mulling alternative solutions to overdue export subsidy funds","author":"enterpriseam admin","date":"15 January 2019","format":false,"excerpt":"FinMin looks at alternative ways to disburse delayed export subsidies: The Finance Ministry is looking at different ways to pay out the delayed export subsidies owed to a number of exporters, Finance Minister Mohamed Maait said, according to Al Mal. Options under consideration at the ministry include exempting exporters from\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":595082,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/16\/egypt-to-launch-today-the-new-egp-6-bn-export-subsidy-framework\/","url_meta":{"origin":597200,"position":4},"title":"Egypt to launch today the new EGP 6 bn export subsidy framework","author":"enterpriseam admin","date":"16 September 2019","format":false,"excerpt":"The government will begin implementing today the promised EGP 6 bn new export subsidy framework after holding several meetings with the export councils, reports Al Mal. Exporters have been awaiting clarity on how the government is planning to implement the new program, which will see some EGP 2.4 bn (40%)\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":593288,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/24\/cabinet-approves-disbursal-of-egp-500-mn-in-overdue-subsidies-to-egyptian-exporters\/","url_meta":{"origin":597200,"position":5},"title":"Cabinet approves disbursal of EGP 500 mn in overdue subsidies to Egyptian exporters","author":"enterpriseam admin","date":"24 November 2019","format":false,"excerpt":"CABINET WATCH- Ministers approve disbursal of EGP 500 mn in overdue export subsidies: The Madbouly Cabinet signed off on disbursing EGP 500 mn in overdue subsidies owed to Egyptian exporters that have committed to expanding their investments, according to an official statement. 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