Monday March 4th, 2024
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EGP 1.4 Billion Tax Relief For Industrial & Animal Production Sectors

The write-off is intended to offset real estate tax incurred by companies operating in the industrial, pharmaceutical and animal production sectors.

Cairo Scene

EGP 1.4 Billion Tax Relief For Industrial & Animal Production Sectors

The Ministry of Finance has pledged to provide EGP 1.4 billion, a little over USD 45 million, annually in order to offset the real estate tax incurred by companies operating in the industrial, poultry, and animal production sectors until the end of 2026. This pledge is part of the government’s plan to alleviate the financial burden weighing on the shoulders of citizens and producers alike, promoting domestic industries to improve the state of the economy.

These latest efforts are intended to address challenges caused by escalating geopolitical tensions and subsequent economic hardships, according to the ministry. Eligible sectors include metal and ceramic industries, automobile manufacturers, cement production, and pharmaceuticals.

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