Egypt: Qandil - Tax Amendments Part of National Program

Prime Minister Hisham Qandil said on Tuesday 11/12/2012 that his government has plans to create around 800,000 jobs in various sectors.

At a press conference, he added that these jobs would be provided through creating a more appropriate investment atmosphere and setting up more companies.

He further noted that the plan includes also upgrading education so that students are groomed up to meet the labor market needs.

As for a recent controversial taxation law, Qandil said that a societal dialogue will start next week on this score with senior economists and political and media people participating.

The premier criticized media reports that tackled inaccurately the new tax law which was issued by President Mohamed Morsi.

The amendments on the law appeared in an inaccurate way in some newspapers and satellite channels, Qandil underlined.

These amendments are part of the government's policy for financial and economic reform that was presented for national dialogue for four days, he added.

Qandil pointed out that the real estate tax would be applied as of July 2013 in which private houses worth less than two million would be exempted.

About 25% of the tax revenues will be allocated to develop slums, he added.

Ads by Google

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.