{"id":626679,"date":"2018-07-09T04:19:51","date_gmt":"2018-07-09T04:19:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/correction-11\/"},"modified":"2018-07-09T04:19:51","modified_gmt":"2018-07-09T04:19:51","slug":"correction-11","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/correction-11\/","title":{"rendered":"Correction"},"content":{"rendered":"<p><strong>CORRECTION-<\/strong> We had incorrectly noted that the tax on sales revenues for every company operating in Egypt to fund the Universal Healthcare Act was 0.0025%. The correct value for the tax was 0.25%. <a href=\"https:\/\/enterprise.press\/stories\/2018\/07\/08\/president-abdel-fattah-el-sisi-orders-implementation-of-universal-healthcare-acts-phase-one\/\">The story has since been corrected on our website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORRECTION- We had incorrectly noted that the tax on sales revenues for every company operating in Egypt to fund the Universal Healthcare Act was 0.0025%. The correct value for the tax was 0.25%. The story has since been corrected on our website.<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-626679","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"892bf70b-ea94-412d-80e6-ad428b3bc4dd","order":"0","is_powered_by":true,"section_story_id":"d57a8cd0-8f7c-44ef-a7b1-252967387f36","story_type":"1","photo_url":"","photo_position":"above","related_issue":[626660],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Correction - 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\/2018\/07\/09\/correction-11\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Correction\" \/>\n<meta property=\"og:description\" content=\"CORRECTION- We had incorrectly noted that the tax on sales revenues for every company operating in Egypt to fund the Universal Healthcare Act was 0.0025%. 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In doing so, we misidentified the firm serving as lead counsel for Veon in relation to Egyptian legal matters. It is Shalakany Law\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":573767,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/17\/573767\/","url_meta":{"origin":626679,"position":1},"title":"CORRECTION- We incorrectly stated yesterday\u2026","author":"enterpriseam admin","date":"17 August 2020","format":false,"excerpt":"CORRECTION- We incorrectly stated yesterday that the 1% \u2018corona\u2019 tax will be deducted from gross monthly salaries until the end of the current fiscal year. The tax will actually be deducted from net monthly salaries for an as-yet unspecified 12-month period. The article has since been amended on our website.","rel":"","context":"In &quot;Speed Round&quot;","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":630459,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/22\/egypt-ranks-167th-globally-in-pwcs-paying-taxes-report\/","url_meta":{"origin":626679,"position":2},"title":"Egypt ranks 167th globally in PwC\u2019s Paying Taxes report","author":"enterpriseam admin","date":"22 April 2018","format":false,"excerpt":"Egypt was ranked 167th out of 190 nations in Pricewaterhouse Coopers\u2019 2018 Paying Taxes report (pdf). \u201cUsing the perspective of a medium sized domestic manufacturer, [the report] \u2026 assesses not just the amount of tax paid, but how long it takes the company to meet its tax compliance obligations. This\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":628054,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/24\/correction-14\/","url_meta":{"origin":626679,"position":3},"title":"CORRECTION","author":"enterpriseam admin","date":"24 June 2018","format":false,"excerpt":"CORRECTION- In last week\u2019s Worth Reading on the state of Egypt\u2019s VCs by Wamda, it was incorrectly noted that Vezeeta\u2019s 2016 Series B round held the record in Egypt at USD 5 mn. That record was brokenlast month with BasharSoft\u2019s job recruitment platforms Wuzzuf and Forasna raising USD 6 mn\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":627152,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/24\/correction-12\/","url_meta":{"origin":626679,"position":4},"title":"Correction","author":"enterpriseam admin","date":"24 July 2018","format":false,"excerpt":"CORRECTION- French law firm Gide Loyrette Nouel was tapped as joint legal counsel for Cairo Investment and Real Estate Development\u2019s (CIRA) IPO, and not GED Lawyers as we wrote on Thursday. The story has since been corrected on our website.","rel":"","context":"In &quot;Speed Round&quot;","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":597868,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/capital-market-authorities-consider-lowering-egx-fees\/","url_meta":{"origin":626679,"position":5},"title":"Capital market authorities consider lowering EGX fees","author":"enterpriseam admin","date":"7 May 2019","format":false,"excerpt":"REGULATION WATCH- Regulators are considering lowering fees on stock market transactions in an ongoing effort to mitigate the effect of a rising stamp tax, which is set to increase to 0.175% from 0.15% on 1 June, sources close to the matter told Al Mal. 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