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Wednesday, 17 January 2018

E-commerce platforms embrace regulation in Egypt?

E-commerce platforms embrace regulation in Egypt: Some of the largest e-commerce platforms operating in Egypt, among them Jumia and Amazon subsidiary, have (at least publicly) expressed support for the government’s drive to regulate their industry. Only 2% of Egypt’s e-commerce market is regulated, with the rest being unregistered and un-taxed, Hisham Safwat, CEO of Jumia Egypt, tells Al Monitor. “Egypt has a thriving e-commerce market but it lacks rules,” said Egypt CEO Omar El Sahy. Both appeared to look favorably on House Industry Committee member Ali El Kayal’s draft law to regulate the e-commerce industry by implementing a tax framework for it. “The draft law submitted by Kayal targets entities that do not have headquarters on Egyptian territory or are not registered with the [authority],” said Safwat, adding that the law will create a way to tax foreign companies’ sales in Egypt.

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