{"id":601254,"date":"2019-02-24T04:12:00","date_gmt":"2019-02-24T04:12:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/"},"modified":"2019-02-24T04:12:00","modified_gmt":"2019-02-24T04:12:00","slug":"el-sisi-ratifies-new-tax-treatment-for-egyptian-banks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/","title":{"rendered":"El Sisi ratifies new tax treatment for Egyptian banks"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- El Sisi ratifies new tax treatment for banks: <\/b>President Abdel Fattah El Sisi has signed off on proposed amendments to the Income Tax Act that change<\/a><\/u> how banks and corporations account for income from investments in government debt, according to a Finance Ministry statement (pdf)<\/a><\/u>. The ministry will immediately begin outlining the executive regulations, the statement notes, adding that the regs will take into account recent discussions in meetings with the Federation of Egyptian Banks. The House of Representatives approved the changes earlier this month<\/a><\/u>.<\/p>\n

Background: <\/b>The measure will require banks and companies to separately account for earnings from their holdings of government debt and could see their effective tax rates rise. The measure will apply only to gains on debt bought after the treatment comes into effect.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- El Sisi ratifies new tax treatment for banks: President Abdel Fattah El Sisi has signed off on proposed amendments to the Income Tax Act that change how banks and corporations account for income from investments in government debt, according to a Finance Ministry statement (pdf). The ministry will immediately begin outlining the executive […]<\/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":[204,72,7087,1318,180,2380,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601254","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-banking","tag-enterpriseam","tag-finance","tag-fiscal-policy","tag-legislation","tag-speed-round","tag-tax","wpautop","entry"],"acf":{"mongo_id":"890d767c-a5fd-436d-a72d-35da71a5224b","is_powered_by":true,"section_story_id":"c32cc657-8e18-43b5-b9b1-a4c54c070240","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601242],"teaser":"","voice_url":""},"yoast_head":"\nEl Sisi ratifies new tax treatment for Egyptian banks - 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\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Sisi ratifies new tax treatment for Egyptian banks\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- El Sisi ratifies new tax treatment for banks: President Abdel Fattah El Sisi has signed off on proposed amendments to the Income Tax Act that change how banks and corporations account for income from investments in government debt, according to a Finance Ministry statement (pdf). The ministry will immediately begin outlining the executive […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-24T04:12:00+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\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"El Sisi ratifies new tax treatment for Egyptian banks\",\"datePublished\":\"2019-02-24T04:12:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/\"},\"wordCount\":139,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"banking\",\"EnterpriseAM\",\"Finance\",\"fiscal policy\",\"legislation\",\"SPEED ROUND\",\"tax\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/02\/24\/el-sisi-ratifies-new-tax-treatment-for-egyptian-banks\/\",\"name\":\"El Sisi ratifies new tax treatment for Egyptian banks - 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