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Monday, 8 August 2016

Meetings between Finance Ministry, SCZone to reduce tax on projects

SCZone and Finance Ministers discussing a return of investment incentives: The General Authority For Suez Canal Economic Zone (SCZone) is in meetings with the Finance Ministry to bring back the tax incentives at special economic zones, Al Mal reported. The recent talks are part of a concerted campaign by SCZone chief Ahmed Darwish to restore the incentives, after taxes in the zones were raised by the Mahlab cabinet in 2015 to 22.5% from 10%. Last month, Darwish managed to get a tentative approval from President El Sisi to review taxes in these zones.

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