The cybercrimes law no. 175/2018 (the “Law”) has been issued on 14 August 2018 and enacted on 15 August 2018. The Law stipulated that its executive regulations will be issued within three months from the date of issuance of the Law. After more than two years, and on 27 August, 2020, the Prime Minister has […]
Highlights The Law No. 173 of 2020 was issued on 16 August 2020 regarding the tax waiver in relation to interest on late payment, additional tax and related non-criminal financial penalties (the “New Law”). The New Law also renews the effectiveness of the Tax Disputes Settlement Law No. 79 of 2016 and highlights the continuity […]
Egypt Law No. 10/2003 on Telecommunications Regulatory Law is the main law regulating all matters relating to telecommunications. Egypt Law No. 10/2003 was published in the Official Gazette on 4 February 2003, coming into effect on the following day (i.e., 5 February 2003). Egypt Law No. 10/2003 and all the related regulations have a significant […]
Highlights On 28 July 2020, the Egyptian Tax Authority (“ETA”) issued the decree no. 386 of 2020 (the “Decree”) in application of the Ministry of Finance decree no. 188 of 2020, obliging a number of companies listed under the Decree and VAT registered companies to issue e-invoices with regards to sold goods and services as […]
The long anticipated Egyptian Personal Data Protection Law No. 151/2020 was issued on 15 July 2020 (the “Law”). Since the issuance of the draft law in February 2019, extensive engagement and discussions have taken place between Parliament, Government and key stakeholders in the technology and telecommunication industry aiming to attract investment and to provide strong […]
The long anticipated Egyptian Personal Data Protection Law No. 151/2020 was issued on 15 July 2020 (the “Law”). The Government has submitted the draft law back in February 2019 and extensive engagement, discussions and negotiations have since taken place between Parliament, Government and key stakeholders in the technology and telecommunications industry. The engagement and discussions aimed to attract investment […]
The long anticipated Egyptian Personal Data Protection Law has finally been issued on 15 July 2020 by law No. 151/2020 (the “Law”). The Government has submitted the draft law back in February 2019 and ever since, extensive engagement, discussions and negotiations have taken place between the Parliament, the Government and key stakeholders in the technology […]
This is an overview on the final version of Egypt’s Protection of Personal Data Law and the industry efforts to address the key showstoppers and concerns on the draft law submitted by the government. We also highlight the final outcome for the law which was published in the official gazette on July 17, 2020. This law comes […]
Highlight On 21 June 2020, the President ratified Law No. 83 of 2020 amending the State Financial Resources Development Fee Law No. 147 of 1984 (the “New Amendments”). The New Amendments were published on 23 June 2020 in the Official Gazette to be effective as of 24 June 2020. Scope of Application The New Amendments amended some of […]
Highlights Decree No. 276 of 2020 dated 2 June 2020 (“Decree”) issued by Minister of Finance establishes a new program under the name of the “Authorized Economic Operator Program (“AEO”)” and sets out the criteria and benefits of said program. Scope of the Decree The Authorized Economic Operator program is opened to any person […]
Highlights Decree No. 61 of 2020 dated 8 April 2020 (“Decree”) issued by the Egyptian Financial Regulatory Authority (the “FRA”) outlining the corporate governance rules and regulations of the consumer finance companies. Main Points of the Decree 1. Board of Directors (“BoD”):• The majority of the board members should be non-executive ones; including a […]
Highlights Law No. 26 of 2020 was issued on 7 May 2020 amending some provisions of the Income Tax Law No. 91 of 2005 (the “Amendment”), including adding new tax rates and tax brackets as well as increasing the annual personal exemption to EGP 9,000. Scope of Amendment The Amendment introduces the following new […]
Highlights In response to the COVID-19 outbreak and its financial implications, the Egyptian government has taken numerous measures and issued a number of decrees to support the Egyptian economy and businesses during these challenging times. In line with such measures, on 7 May 2020, the Law No. 24 of 2020 on Setting-out Financial Rules for the Ramifications of the Novel Coronavirus (the […]
