As the country continues to struggle with a foreign currency crisis, Egypt has also witnessed difficulties with imports, which have declined by 19 percent. Additionally the government has introduced a number of restrictions on imports, for instance in December 2015, the Ministry of Trade and Industry issued Decree No. 992/ 2015, which imposes a mandatory […]
Value Added Tax Value Added Tax, a barbed matter that has always been surrounded by fear of the poor and anger of the wealthy. A double-edged weapon that has proven to be an efficient way in increasing the government’s income, yet, always thought to be an extra burden on the Middle and Lower income […]
“It’s not that we use technology, we live technology” – Godfrey Reggio We use technology in our everyday quick paced lives in order to facilitate our daily interactions in all fields. The ever growing and evolving technology is transferrable to give everyone access to its use. In this article we aim at tackling various points and […]
“Wars will remain while human remains. I believe in my soul in cooperation, in arbitration but the soldier’s occupation we cannot say is gone until human nature is gone.” Rutherford B. Hayes Apart from the fact that shipping is a fascinating, globalised and complex industry, it still remains unique and different from other industries. […]
The Egyptian Competition Law was promulgated by Law 3/2005. The Law aims to ensure that economic activity does not prevent, cripple, or harm freedom of competition. Basically, the Law handles the behavior of persons doing business in the market. A person’s market share shouldn’t constitute a violation unless one of the violations mentioned in the Law is committed. This corresponds with the very name of the Law, as it aims to prevent monopolistic practices, not a monopoly.
On 12 March 2015, Presidential Decree 17/2015 was issued to introduce substantial amendments to the Investment Law 8/1997 (Investment Law). It also amended certain provisions of the Companies Law 159/1981 (Companies Law), the Sales Tax Law 11/1991 (Sales Tax Law), and the Income Tax Law 91/2005 (Income Tax Law). The amendments generally aim at attracting new investments to Egypt through increasing the chances in restoring confidence in Egypt’s investment climate, offering further incentives and guarantees, removing obstacles, streamlining the procedure taking into consideration the existing impediments for foreign and domestic investment.