DetailsEgypt Tax
URL: http://www.egypttax.com
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Description: Egypt is one of the most powerful forces in the Arab World, having a highly developed economic and social structure, and abundant sources of labor.
Egypt is currently implementing a free market policy including lifting restrictions on imports, lowering customs duties and floating the Egyptian pound.
The Government offers reduced import duties in order to encourage foreign investment, particularly in projects that contribute to the earning of foreign currency and to reducing the country’s reliance on imports.
Non-Egyptian nationals, whether natural or juristic, may engage in commercial, industrial and agricultural service activities. There is no restriction on foreign participation in Egyptian Corporations. As a general rule, the law does not allow a non-Egyptian to participate in an agency or in importing activities.
On 9th of June 2005, the Egyptian President approved the issuance of the Income Tax Law No. 91. The effective date of applying the Law is 10th of June 2005. The law aims to distribute the tax burden in a fair manner, reduce tax rates and develop the Tax Authority Human Resources. Also, the Law aims to encourage the mutual trust principle between taxpayers and tax authority, which will widen the tax community.
Submitted: Mar 29, 2006 - 4:30 PM
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