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Thursday, 5 March 2020

Cabinet approves dual taxation agreement with Cyprus

CABINET WATCH- Cabinet approves dual taxation agreement with Cyprus: The Madbouly Cabinet approved yesterday a 2019 agreement to renew Egypt’s double taxation treaty with Cyprus, according to a cabinet statement. The agreement, which was first signed in December 1993, includes income and real estate tax in Egypt and covers income tax for individuals and companies and capital gains tax in Cyprus.

Other decisions from an otherwise uneventful day around the cabinet table:

  • Extending the deadline granted to development and tourism investment companies to complete their tourism projects, for a period of one year until 31 March 2021;
  • Granting Yas Holding Group a concession to manage Al-Azhar University Specialized Hospital to develop the hospital and improve the quality of the healthcare service it provides;
  • Approving a decision to consider King Salman and Galala universities projects as national projects to expedite their establishment;
  • Approving a bundle of decisions and recommendations from the investment dispute resolution committee.

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