Egypt - Changes in regulation of capital investments.
Egypt - Changes in regulation of capital investments.
Government ARE has published as the application to Law N 8
(1997) the new rules regulating a procedure
Investments in country territory. The companies registered in
Conformity with this law, are released from tax payment on
Corporations for 5 years (if they are based in the new industrial
Zones and the remote areas this term increases till 10 years;
And outside of a valley of Nile - till 20 years). Privileges extend
On the following п п?п п©п п?п п :.
Mastering deserted territories with use of the modern
Methods irrigatsii;.
Engaged in animal industries, poultry farming, fishery;.
The industrial and mining companies (including
Oil refining and carrying out processing of production NPZ;
Privileges do not extend on manufacture of tobacco products and
Spirits);.
Operators of hotels, motels, boarding houses, tourist
Small towns;.
The transport companies specialising on transportations of cargoes in
Refrigerators, operators of container terminals,
Granaries, warehouses-refrigerators;.
Airlines and the services connected with them (including service
The airports);.
The sea navigable companies serving the international lines;.
Carrying out oil investigation, drilling on oil, transportation
Natural gas (transportation of oil and mineral oil not
Falls under privileges);.
Realising projects of housing construction not less than on 50
Houses;.
Developing an infrastructure, switching on electro-and water supply,
The water drain, motorways and communication;.
Hospitals and the clinics using the medical capacities on
To extreme measure on 10 % without п п?bп п п?п я payments;.
Specialising on financial leasing;.
On placing of securities;.
The venture companies;.
Making COMPUTERS and preparing the software for them;.
Participating in realisation of the projects financed Social
Development fund.
Privileges extend only on those companies, in management
Which the ordinary personnel (through special committee participates,
Created by a management and the hired personnel). As the head marks
Managements under I.Favzi's investments, this way guarantees worker
Participation in decision-making, including at the enterprises,
Created with attraction of the foreign capital.
In new rules specification, according to which 1 %-s' contains
The export duty raised from the enterprises, operating in
Bonded areas, it is estimated concerning the final selling
The prices, instead of production cost prices.
Lack of new system of regulation many Egyptian
Economists consider nevkljuchenie in the list of exempts of the companies,
Carrying out jobs on expansion of economic objects, and
Also services engaged in granting. In the statement on
I.Favzi's to this problem has noticed, that privileges operate in the relation
Expansions of tourist objects. In the future entering is possible
The additions increasing sphere of action of rules. Rather
Services he has declared, that this branch is especially subject
To abusings from the investors creating sometimes
The fictitious enterprises in operative ranges of privileges, and in
The validity investing the capital in territory of the largest
Country cities.
//* an information Source: BIKI, 20.09.97
//* Reg. Nom. - 6070900192.12-------------------------------------------
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