Government plans tax facilitations for investors: official

Finance Minister Mohamed Maait and Prime Minister Mostafa Madbouly reviewed draft laws that include tax facilitations for investors in Egypt, Ragab Mahrous, advisor to the head of the Tax Authority, said.

Investors seek a stable monetary policy, so the government plans not to impose financial burdens on investors in the coming period, Mahrous said. This waa said in a telephone conversation with TV presenter Azza Mustafa, on the on Sada al-Balad satellite channel.

Tax incentives have been provided for investors, as a simplified tax and a definitive tax were imposed in the context of supporting investment, Mahrous, added, on Tuesday evening, pointing out that the financier can pay the income tax in installments.

Mahrous explained that there is a draft law that has been submitted to the House of Representatives, for the investor to obtain a monetary incentive on tax for certain investment activities. This decision will be issued by the Prime Minister, he said, pointing out the incentive reaches 50 percent.

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