{"id":676481,"date":"2025-12-01T00:00:00","date_gmt":"2025-12-01T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/01\/el-sisi-directs-authorities-to-launch-second-package-of-tax-facilities\/"},"modified":"2025-12-01T00:00:00","modified_gmt":"2025-12-01T00:00:00","slug":"el-sisi-directs-authorities-to-launch-second-package-of-tax-facilities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/01\/el-sisi-directs-authorities-to-launch-second-package-of-tax-facilities\/","title":{"rendered":"El Sisi directs authorities to launch second package of tax facilities"},"content":{"rendered":"

Good morning, all, and welcome to the last month of the year. <\/strong>We have a busy issue to kick off the month and we don\u2019t expect things to calm down as the week unfolds, with a mission from the IMF landing in town shortly for the fifth and sixth reviews of our USD 8 bn program. We dive into what we can expect from the mission\u2019s two-week visit and the indicators giving us hope that the Fund will greenlight the reviews later this month in the news well. <\/p>\n

ALSO IN TODAY\u2019S ISSUE- <\/strong>We interview CI Capital\u2019s Amr Helal to discuss what it will take to revive Egypt\u2019s capital markets.<\/p>\n

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PSA- <\/p>\n

WEATHER- <\/strong>It\u2019s another cool day in Cairo, with a high of 23\u00b0C and a low of 14\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s just as cool in Alexandria<\/strong>, with a high of 22\u00b0C and a low of 14\u00b0C.<\/p>\n

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ICYMI- Missed this week\u2019s Inside Industry? <\/strong>In our weekly vertical exploring all things industry and manufacturing, we looked at the country\u2019s iron and steel industry, what problems have burrowed themselves within, their root causes, and how they might be addressed. Check out the story here<\/a>.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> #1- The second package of tax facilities under the spotlight: <\/strong>President Abdel Fattah El Sisi met with Prime Minister Moustafa Madbouly and Finance Minister Ahmed Kouchouk to discuss the details of the long-awaited second package of tax facilities, according to an Ittihadiya statement<\/a>. During the meeting, El Sisi directed authorities to launch the package<\/strong>, emphasizing the importance of continuing to develop the tax system. <\/p>\n

Package two of four: <\/strong>The package is part of a four-package tax strategy \u2014 the first package came with the aim of building trust between taxpayers and the tax authority and the second to incentivize tax compliance. <\/p>\n

The details: <\/strong>The new package targets compliant taxpayers with incentives, simplified procedures, and digital tools to encourage voluntary compliance and boost business liquidity and competitiveness. <\/p>\n

What else can we expect from the second package of <\/strong>tax facilities<\/a><\/strong>? <\/strong>The new package is primarily focused on resolving issues experienced by the tax community when it comes to following the VAT Law by introducing new facilities and removing hurdles facing businesses. Last month, we spoke with Deputy Finance Minister for Taxes Sherif Al Kilani to learn more about the facilities \u2014 check out the interview here<\/a>.<\/p>\n

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<\/a> #2- Gourmet is targeting a 1Q 2026 window for a potential IPO on the EGX<\/strong>, Hazem Barakat, co-founder and chairman of B Investments \u2014 which holds a 53% stake in the high-end supermarket chain \u2014 told Cairo Weekend\u2019s Zeina Soufan (watch, runtime: 13:54<\/a>). The private equity owner, once said to be choosing between a full exit and upping its stake<\/a> in Gourmet, is now exploring a public share sale by early next year amid better market conditions, Barakat said, noting that no final decisions have yet been made.<\/p>\n

Barakat also addressed last year\u2019s near-exit attempt<\/strong>, saying B Investments came very close to divesting Gourmet to an unnamed foreign buyer<\/a>. The process stalled as the buyer\u2019s global strategy shifted, he said, adding that the delay ultimately worked in their favor with Gourmet\u2019s 2024 results seeing 30-40% y-o-y growth, strengthening the case for a public listing.<\/p>\n

ICYMI- There\u2019s another layer to the story:<\/strong> Gourmet founder and owner of the remaining 47% stake Jalal Abu Ghazaleh reportedly tapped<\/a> EFG Hermes last year to manage the sale of a stake in the high-quality food emporium, though the plan never materialized.<\/p>\n

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<\/a> #3- The government is weighing a proposal to establish a global debtors <\/strong>coalition <\/strong>that would allow debt-laden countries to coordinate positions, exchange expertise, and jointly address restructuring and debt-management challenges, government sources told EnterpriseAM. The concept \u2014 still in early study \u2014 would require a clear institutional framework and could complement Egypt\u2019s broader strategy to convert portions of sovereign debt into investment projects, a model Cairo has already deployed at scale and plans to expand over the coming years.<\/p>\n

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NEWS TRIGGERS- <\/p>\n

It\u2019s the first day of December <\/strong>\u2014 here are the key news triggers to keep your eyes on this month:<\/p>\n