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Thursday, 14 February 2019

GAFI aims to amend fees for freezone industries

REGULATION WATCH- Could taxes on freezone products be going away? The General Authority for Investment (GAFI) could look at giving companies based in free zones a break, says Moatasem Rashed, the head of the Private Free Zones Investors Association, an industry association. Rashed is nudging GAFI to cut taxes and a fee imposed in 2017. The 2017 Investment Act imposed a 1% tax on goods exported from free zones, a 2% fee on all goods sold in Egypt out of free zones and a 1% fee on the operating costs of industrial projects in the zones.

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