Back to the complete issue
Tuesday, 6 November 2018

House to discuss E-commerce Act next week

LEGISLATION WATCH- Gov’t to introduce proposed E-commerce Act to the House on 15 November: The government will introduce its proposed E-commerce Act to the House of Representatives on 15 November when the House CIT Committee starts hearings, committee chair Rep. Ahmed Badawi told Amwal Al Ghad.

Background: Local press had noted 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.

Major players feel left out: Jumia CEO Hisham Safwat complained to the newspaper that the private sector was not consulted when the government was drafting the law. He did note that the company is now in talks with the Information Technology Industry Development Agency (ITIDA) to discuss the bill. Jumia and Amazon subsidiary had previously said they expect ot be regulated.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.