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Monday, 10 December 2018

House happy with Competition Act amendments, votes to extend real estate tax collection period

LEGISLATION WATCH- House gives preliminary nod to Supply Affairs Law, Competition Act amendments: The House of Representatives’ general assembly have preliminary approval to proposed amendments to the Supply Affairs Law and the Egyptian Competition Act, but postponed its final vote due to lack of quorum, Al Ahram reports. The amendments would, if passed, grant supply and interior ministry inspectors as well as the Consumer Protection Authority the right to monitor the market and guard against price increases on staple goods and commodities. The amendments would also step up fines for traders who hoard commodities to drive up prices.

The House general assembly also signed off on amendments to the Real Estate Tax Act extending the tax collection period to December 2021, instead of December 2020, as requested by Cabinet, Al Mal reported.

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