Translation of Law No. 159 of 2023
The Translation of Law No. 159 of 2023 highlights Egypt’s efforts to promote fair competition and equal tax treatment.
Law No. 159 of 2023 introduces a significant legislative reform by abolishing tax and fee exemptions previously granted to state entities engaging in investment and economic activities. The legislation aims to eliminate preferential treatment, strengthen competitive neutrality, and create a more balanced business environment in Egypt.
This translation of the Abolition of Tax and Fee Exemptions Granted to State Entities Engaging in Investment and Economic Activities Law outlines the scope of the legislation, including the affected entities, applicable exemptions, and treatment of existing contracts. Certain exemptions remain applicable, particularly those relating to international agreements, national defense, and essential public utility services.
The translation also covers Prime Ministerial Decree No. 242 of 2024, which establishes the Law’s Executive Regulations and clarifies its implementation, including the treatment of economic activities, separate accounting requirements, and compliance obligations.
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