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Sunday, 30 January 2022

Egypt’s Finance Ministry to revisit real estate tax on factories?

The Finance Ministry has reportedly pledged to review the real estate tax on factories, Al Borsa quotes Egyptian Federation of Investors Association (EFIA) head Mahram Hilal as saying. Factories have for years been vying for an exemption from real estate tax to allow them to pay off high production costs without success, though the government has instead proposed a reduction in property tax dues under a draft bill.

The Suez Canal Economic Zone is looking for ways of increasing business ties with Greece’s second-largest port after it signed an agreement with the Thessaloniki Port Authority last week.

Other things we’re keeping an eye on this morning:

  • The General Authority for Supply Commodities purchased 420k tonnes of wheat for March delivery in an international tender last week — more than 40% of it from conflict-threatened Ukraine, with the rest coming from Russia and Romania.
  • The European Bank for Reconstruction and Development is working with QNB AlAhli and blockchain platform CargoX — of Nafeza fame — to test out digital trade finance network Contour in Egypt.

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