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Thursday, 27 September 2018

E-commerce Act to be ready in 1H2019

LEGISLATION WATCH- E-commerce Act to be ready in 1H2019? Legislation to regulate e-commerce currently being drafted by the CIT Ministry will be ready to present to the Madbouly Cabinet in 1H2019, CIT Ministry official Mohamed Hegazy said at the E-commerce Summit in Egypt on Wednesday, according to Amwal Al Ghad. While Hegazy gave further details, the local press had noted back in December that the that the law was primarily concerned with establishing a tax framework for the industry. Government sources had told us back in June that the Finance Ministry was looking to impose a VAT on e-commerce. Some of the largest e-commerce platforms operating in Egypt, among them Jumia and Amazon subsidiary Souq.com have (at least publicly) expressed support for regulating the industry.

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