{"id":648223,"date":"2017-05-31T03:57:25","date_gmt":"2017-05-31T03:57:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/house-council-of-state-and-policymakers-are-in-a-sprint-to-the-summer-recess-finish-line\/"},"modified":"2017-05-31T03:57:25","modified_gmt":"2017-05-31T03:57:25","slug":"house-council-of-state-and-policymakers-are-in-a-sprint-to-the-summer-recess-finish-line","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/31\/house-council-of-state-and-policymakers-are-in-a-sprint-to-the-summer-recess-finish-line\/","title":{"rendered":"House, Council of State and policymakers are in a sprint to the summer recess finish line"},"content":{"rendered":"<p><a id=\"tldr-story-03\" class=\"content-anchor\"><\/a> <strong>RACE TO THE FINISH: <\/strong>The passage this week of the stamp tax comes as MPs and other state officials kicked off a race to finish work on key pieces of economic legislation before they go on summer recess on 30 June. Among the various bills now in the works:<\/p>\n<ul type=\"disc\">\n<li><strong>Amendments to the Capital Markets Act,<\/strong> of which the Council of State began its review yesterday, <a href=\"http:\/\/www.elborsanews.com\/2017\/05\/30\/1026821\">unnamed officials tell Al Borsa<\/a>. Once reviewed, <a href=\"https:\/\/enterprise.press\/stories\/2017\/02\/12\/committee-amending-the-capital-markets-act-meets\/\">the amendments<\/a> \u2014 which among other things are expected to modify the regulations governing private placement, cover the issuance of sukuks, and give the EGX flexibility to set lower listing fees to attract smaller companies \u2014 will be sent back to Cabinet before they are referred to the House of Representatives for a vote.<\/li>\n<li><strong>Amendments to the Consumer Protection Act,<\/strong> also now with the Council of State, having been sent back for a second review <a href=\"https:\/\/enterprise.press\/stories\/2017\/05\/16\/on-the-horizon-128\/\">earlier this month<\/a>.<\/li>\n<li>The new <strong>Mineral Resources Act <\/strong>and amendments to the <strong>1941 commercial fraud law <\/strong>are also now before the Council of State.<\/li>\n<li><strong>The new Labor Act <\/strong>is now before the Manpower Committee at the House of Representatives.<\/li>\n<li><strong>A new nuclear power authority <\/strong>may be in the works. The House Environment Committee is now reviewing a proposal to that effect.<\/li>\n<\/ul>\n<p><strong>We expect key pieces of legislation to be kicked back to the House\u2019s fall session. <\/strong>These include:<\/p>\n<ul type=\"disc\">\n<li>The long-awaited <strong>Bankruptcy Act<\/strong>, which would decriminalize bankruptcy and could make it possible for companies to request time to re-structure under US \u201cchapter 11\u201d style bankruptcy protection.<\/li>\n<li>The <strong>Natural Gas Act<\/strong>, which could create a private-sector market for natural gas, while leaving the state to play the role of regulator.<\/li>\n<li>Enabling legislation for the so-called <strong>Automotive Directive<\/strong>, which would give domestic automotive assemblers incentives to go higher up the value chain into manufacturing.<\/li>\n<li>The\u00a0<strong>Companies Act<\/strong>, which aims to simplify procedures for businesses on an ongoing basis.<\/li>\n<\/ul>\n<p><strong>Also on MPs\u2019 agendas this week: <\/strong>The House Agriculture Committee is set to hold a hearing on the state\u2019s campaign to repossess land that has been illegally acquired. The House Budget Committee is looking at the impact of the 200 bps interest rate hike on the FY2017-18 budget, and Central Bank of Egypt Governor Tarek Amer may appear before the House Economics Committee. Amer\u2019s appearance, leaked earlier this week, appears less likely as the week wears on.<\/p>\n<p><strong>We could not be more tired of this:<\/strong> The Council of State is due to begin reviewing tomorrow a fresh lawsuit against the Ismail government\u2019s handover of Tiran and Sanafir islands to Saudi Arabia, <a href=\"http:\/\/www.youm7.com\/story\/2017\/5\/30\/%D8%A3%D9%88%D9%84-%D9%8A%D9%88%D9%86%D9%8A%D9%88-%D8%A3%D9%88%D9%84%D9%89-%D8%AC%D9%84%D8%B3%D8%A7%D8%AA-%D8%A8%D8%B7%D9%84%D8%A7%D9%86-%D8%A5%D8%AD%D8%A7%D9%84%D8%A9-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D9%8A%D8%B1%D8%A7%D9%86-%D9%88%D8%B5%D9%86%D8%A7%D9%81%D9%8A%D8%B1-%D9%84%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86\/3261118\">Youm7 reports<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RACE TO THE FINISH: The passage this week of the stamp tax comes as MPs and other state officials kicked off a race to finish work on key pieces of economic legislation before they go on summer recess on 30 June. Among the various bills now in the works: Amendments to the Capital Markets Act, [&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-648223","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"af85c944-a54b-4f91-a113-0d3f4febcf7a","order":"0","is_powered_by":true,"section_story_id":"61684082-34ca-4449-93de-eb5b8f73bdb8","story_type":"1","photo_url":"","photo_position":"above","related_issue":[648211],"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, Council of State and policymakers are in a sprint to the summer recess finish line - 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\/2017\/05\/31\/house-council-of-state-and-policymakers-are-in-a-sprint-to-the-summer-recess-finish-line\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House, Council of State and policymakers are in a sprint to the summer recess finish line\" \/>\n<meta property=\"og:description\" content=\"RACE TO THE FINISH: The passage this week of the stamp tax comes as MPs and other state officials kicked off a race to finish work on key pieces of economic legislation before they go on summer recess on 30 June. 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The House will still have to\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":603319,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/18\/council-of-state-to-complete-in-days-reviewing-amendments-to-egypts-customs-act\/","url_meta":{"origin":648223,"position":1},"title":"Council of State to complete in \u201cdays\u201d reviewing amendments to Egypt\u2019s Customs Act","author":"enterpriseam admin","date":"18 April 2019","format":false,"excerpt":"LEGISLATION WATCH- Council of State to complete review of proposed Customs Act amendments in days: The Council of State (Maglis El Dawla) is set to complete its review of proposed amendments to the Customs Act \u201cover the next few days\u201d, Customs Authority boss Kamal Negm said, according to Al Masry\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":599422,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/06\/27\/customs-act-amendments-to-be-discussed-by-egypts-house-after-summer-break\/","url_meta":{"origin":648223,"position":2},"title":"Customs Act amendments to be discussed by Egypt\u2019s House after summer break","author":"enterpriseam admin","date":"27 June 2019","format":false,"excerpt":"EXCLUSIVE- Customs Act parliamentary discussions kicked to FY2019-2020 legislative cycle: The House of Representatives is expected to vote on proposed amendments to the Customs Act after the summer recess, two government sources told Enterprise. The Finance Ministry decided to postpone the vote to give itself time to factor in the\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":647478,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/11\/council-of-state-signs-off-on-stamp-tax-duty-sends-to-house\/","url_meta":{"origin":648223,"position":3},"title":"Council of State signs off on stamp tax duty, sends to House","author":"enterpriseam admin","date":"11 May 2017","format":false,"excerpt":"Stamp tax on all capital market transactions back with the House for a final vote: Maglis Al Dawla (Council of State) has finished reviewing amendments to the Income Tax Law that will incorporate a stamp tax on EGX transactions, Deputy Finance Minister Amr El Monayer told Al Borsa on Wednesday.\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":651964,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/26\/maglis-al-dowla-proposes-amendments-to-vat-regulations-that-could-see-further-amendments-to-the-law\/","url_meta":{"origin":648223,"position":4},"title":"Maglis Al Dowla proposes amendments to VAT regulations that could see further amendments to the law","author":"enterpriseam admin","date":"26 February 2017","format":false,"excerpt":"Could the government be forced to amend the value-added tax act? The executive regulations governing the value-added tax (VAT) may not be handed down as fast as Deputy Finance Minister Amr El Monayer had hoped: Maglis Al Dowla (the State Council) has concluded its review and says it has 30\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":635355,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/03\/council-of-state-to-begin-reviewing-basket-of-legislation-including-ride-hailing-apps-act\/","url_meta":{"origin":648223,"position":5},"title":"Council of state to begin reviewing basket of legislation, including Ride-hailing Apps Act","author":"enterpriseam admin","date":"3 December 2017","format":false,"excerpt":"LEGISLATION WATCH- Maglis Al Dawla to begin reviewing basket of legislation, including Ride-hailing Apps Act: The Council of State (Maglis Al Dawla) has received seven pieces of economic legislation to review before they\u2019re put to a vote by the House of Representatives, Al Borsa reports. Those include theRide-hailing Apps Act,\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\/648223","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=648223"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/648223\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/648211"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=648223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=648223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=648223"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=648223"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=648223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}