Provides new investment incentives for industrial projects
20 Oct 2022
The Cabinet of Egypt approved on 20 October 2022 a law which provides investment incentives for industrial projects. The law, which comes as an amendment to the Investment Law, stipulates that investment projects in key industries and areas will be granted incentives up to 55 per cent of the value of the tax on income generated. The incentives will be granted if at least 50 per cent of the investment project or expansion is financed by foreign currency from abroad, and if production starts within six years after the law enters into force. The grace period for production may be extended at the Cabinet’s discretion.
-
Type:
-
Promotion and facilitation (Investment incentives)
-
Industry:
-
Sources:
