LEGISLATION WATCH- Maglis El Dawla to finalize review of draft customs and SMEs acts this week: The Council of State (Maglis El Dawla) is expected to finish reviewing the draft customs and SMEs acts this week and send them to Cabinet before Eid El Fitr, the local press reports. Sources claim the council will hold two meetings this week to wrap up its work.

What we know so far: Customs Act. The proposed amendments to the Customs Act would expedite customs clearance, create a “whitelist” of trusted importers, and broaden the Custom Authority’s discretion, according to the final draft released by the Finance Ministry last year.

What we know so far: SMEs Act. The bill includes a number of tax and non-tax incentives for SMEs to go legit. Government entities will also be working to issue licenses and ensure SMEs are included in tenders, government auctions, and banking facilities. The SME tax incentives package could cost the government EGP 1.5-2 bn each year.

What’s next? Presuming the bills get cabinet sign-off, they then head to the House of Representatives review in committee and votes by the House General Assembly.