Egypt Aims To Approve Stimulus Package for Strategic Industries That Includes Tax Breaks

  • Cairo, Egypt
  • 28 August 2023
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Egyptian President Abdel Fattah Al-Sisi called on the government to grant targeted strategic industrial projects a package of incentives, including exemption from all taxes except value-added.

The incentive package includes exemption from all types of taxes, except value-added tax, for up to 5 years, for industrial projects that target strategic industries, with the aim of deepening the national industry. Provided that the Council of Ministers issues a detailed decision to define these industries, provided that the projects are implemented and operated according to their size within a maximum period of 3 years.

The incentives also include the possibility of extending the exemption for an additional five years for a specific number of these industries, provided they achieve specific targets.

Source (Al-Arabiya.net Website, Edited)

 

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