{"id":627497,"date":"2018-06-04T04:06:40","date_gmt":"2018-06-04T04:06:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/"},"modified":"2018-06-04T04:06:40","modified_gmt":"2018-06-04T04:06:40","slug":"house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/","title":{"rendered":"House general assembly starts budget debate, gives gov\u2019t one-month deadline for strategy to bring small businesses into formal economy"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>BUDGET WATCH- The House of Representatives\u2019 general assembly is set to continue debating the FY2018-19 state budget today. <\/strong>Discussions kicked off yesterday after the Budget Committee completed its review of the bill, <a href=\"http:\/\/gate.ahram.org.eg\/News\/1965775.aspx\">Ahram Gate reports<\/a>. With the Finance Ministry\u2019s approval, the committee allocated additional amounts to a number of budget items, including <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/09\/parliament-subcommittee-to-study-fixed-power-prices-for-lowest-consumption-brackets-education-could-get-larger-budget-in-fy2018-19\/\">EGP 2 bn for the Education Ministry<\/a> to purchase tablet devices needed for the implementation of its new system at the start of the academic year, as well as EGP 1 bn split evenly between health and education, committee chair Hussein Issa <a href=\"http:\/\/almalnews.com\/Story\/378020\/14\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D8%B9%D8%AA%D9%85%D8%AF-2-%D9%85%D9%84%D9%8A%D8%A7%D8%B1-%D8%AC%D9%86%D9%8A%D9%87-%D8%A5%D8%B6%D8%A7%D9%81%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%85-%D9%88500-%D9%85%D9%84\">tells Al Mal<\/a>. The Health Ministry is also receiving <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/13\/cabinet-agrees-to-allocate-additional-egp-2-6-bn-to-healthcare-in-fy2018-19-from-other-ministries-surplus\/\">an extra EGP 2.6 bn<\/a> to add its investment budget. You can <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/16\/budget-debate-officially-kicks-off-at-the-house\/\">tap or click here<\/a> to read our refresher on the new state budget.<\/p>\n<p><strong>The House has given the government a one-month deadline to present a strategy for incorporating small businesses into the formal economy<\/strong>, <a href=\"http:\/\/www.almalnews.com\/Story\/377988\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%84%D8%B2%D9%85-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A8%D8%AA%D9%82%D8%AF%D9%8A%D9%85-%D8%B1%D8%A4%D9%8A%D8%A9-%D8%AF%D9%85%D8%AC-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%BA%D9%8A%D8%B1-%D8%A7%D9%84%D8%B1%D8%B3%D9%85%D9%8A-%D8%AE%D9%84%D8%A7%D9%84-%D8%B4%D9%87%D8%B1-\">Al Mal reports<\/a>. President El Sisi <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/17\/el-sisi-attends-fifth-national-youth-conference-in-cairo\/\">had said last month<\/a> that all businesses that choose to go legit will be exempt from paying taxes for five years, and will enjoy other incentives including simplified access to social insurance. The Finance Ministry is also reportedly mulling setting a flat tax for SMEs based on the size of their top line as part of the SME Act, Tax Authority sources <a href=\"https:\/\/enterprise.press\/stories\/2018\/05\/07\/finance-ministry-looks-to-make-it-even-easier-for-smes-to-become-taxpayers\/\">had previously told us<\/a>.<\/p>\n<p><strong>House wants to implement \u201cprogressive income tax system.\u201d The catch is, we already have one:<\/strong> According to a muddled and confused story in <a href=\"https:\/\/www.alborsanews.com\/2018\/06\/03\/1108990\">state news agency MENA<\/a>, the Budget Committee has recommended in its final report that the Ismail government introduce legislation to bring into effect a progressive income tax system as mandated by Article 38 of the constitution. A progressive tax system, MENA says the committee argues, would allow the state to widen its tax base. Fair \u2018nuff, but we already have a progressive tax system for individuals, running from 0% to 22.5% at the top end. It\u2019s unclear whether the story is meant to signal potential changes to tax brackets (see our lead story in Speed Round this morning, above), a progressive tax system for corporations, or something else entirely.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BUDGET WATCH- The House of Representatives\u2019 general assembly is set to continue debating the FY2018-19 state budget today. Discussions kicked off yesterday after the Budget Committee completed its review of the bill, Ahram Gate reports. With the Finance Ministry\u2019s approval, the committee allocated additional amounts to a number of budget items, including EGP 2 bn [&hellip;]<\/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-627497","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0ebbea3e-fc31-46d1-a752-b6123350f5c8","order":"0","is_powered_by":true,"section_story_id":"68b09fd8-59cf-4920-96ab-ca12c80f74c4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627489],"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>House general assembly starts budget debate, gives gov\u2019t one-month deadline for strategy to bring small businesses into formal economy - 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\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House general assembly starts budget debate, gives gov\u2019t one-month deadline for strategy to bring small businesses into formal economy\" \/>\n<meta property=\"og:description\" content=\"BUDGET WATCH- The House of Representatives\u2019 general assembly is set to continue debating the FY2018-19 state budget today. Discussions kicked off yesterday after the Budget Committee completed its review of the bill, Ahram Gate reports. With the Finance Ministry\u2019s approval, the committee allocated additional amounts to a number of budget items, including EGP 2 bn [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-04T04:06:40+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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House general assembly starts budget debate, gives gov\u2019t one-month deadline for strategy to bring small businesses into formal economy\",\"datePublished\":\"2018-06-04T04:06:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/\"},\"wordCount\":370,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/06\/04\/house-general-assembly-starts-budget-debate-gives-govt-one-month-deadline-for-strategy-to-bring-small-businesses-into-formal-economy\/\",\"name\":\"House general assembly starts budget debate, gives gov\u2019t one-month deadline for strategy to bring small businesses into formal economy - 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The House\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":598644,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/egypts-house-budgeting-committee-approves-egp-7-3-bn-in-fy2019-2020-additions\/","url_meta":{"origin":627497,"position":1},"title":"Egypt\u2019s House Budgeting Committee approves EGP 7.3 bn in FY2019-2020 additions","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"BUDGET WATCH- House committee loosens state purse strings with EGP 7.3 bn of additional allocations in FY2019-2020 state budget: The House of Representatives\u2019 Planning and Budgeting Committee has allocated an additional EGP 7.3 bn across a number of sectors in FY2019-2020, committee sources said. The Health Ministry will receive an\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\/2020\/1\/662.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572270,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/house-committee-recommends-egp-22-bn-increase-for-education-in-egypts-fy2020-2021-budget\/","url_meta":{"origin":627497,"position":2},"title":"House Committee recommends EGP 22 bn increase for education in Egypt\u2019s FY2020-2021 budget","author":"enterpriseam admin","date":"17 June 2020","format":false,"excerpt":"BUDGET WATCH- House committee recommends bumping up education funding by EGP 22 bn in FY2020-2021: The House Education and Scientific Research Committee has recommended providing an additional EGP 22 bn in funding for the Education Ministry under the state FY2020-2021 budget, a portion of which will be earmarked for e-learning\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":570916,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/house-approves-egp-10-bn-additional-provision-for-fy2019-2020-budget\/","url_meta":{"origin":627497,"position":3},"title":"House approves EGP 10 bn additional provision for FY2019-2020 budget","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves EGP 10 bn additional provision for FY2019-2020 budget: The House of Representatives\u2019 general assembly has approved the government\u2019s request to allocate an additional EGP 10 bn in the FY2019-2020 budget to help the state fight the covid-19 pandemic, according to Al Mal. The proposal was approved\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\/2020\/4\/180.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597866,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/education-ministry-wants-to-squeeze-state-coffers-for-an-additional-egp-11-bn-in-fy2019-20\/","url_meta":{"origin":627497,"position":4},"title":"Education Ministry wants to squeeze state coffers for an additional EGP 11 bn in FY2019-20","author":"enterpriseam admin","date":"7 May 2019","format":false,"excerpt":"BUDGET WATCH- Let the horse-trading begin: The Education Ministry wants an additional EGP 11 bn in FY2019-20 budget. The annual public jockeying to increase the government\u2019s budgetary earmarks for education has begun, with the Education Ministry asking the Finance Ministry for an additional EGP 11 bn, House Planning and Budgeting\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":572660,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/house-planning-committee-approves-egp-80-bn-overdraft-for-egypts-fy2019-2020-budget\/","url_meta":{"origin":627497,"position":5},"title":"House Planning Committee approves EGP 80 bn overdraft for Egypt\u2019s FY2019-2020 budget","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"BUDGET WATCH- The House Planning and Budgeting Committee on Wednesday signed off on a EGP 80 bn overdraft for the FY2019-2020 state budget, Al Masry Al Youm reported. The overdraft was required to pay off the Electricity Ministry\u2019s EGP 102 bn debt to the Oil Ministry and another EGP 50\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=627497"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627497\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627489"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627497"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627497"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}