Egypt: Exempting Tourism From Taxes in April Considered

Prime Minister Kamal el-Ganzouri held a meeting Monday 6/2/2012 of the committee on employing all the idle workforce and production sites in all fields across the country.

Talks tackled several reports on activities in the agricultural, land reclamation, industrial, transport and housing sectors. This will have a positive impact on the Egyptian economy, push the production wheel forward and create new jobs for the youth, according to officials who attended the meeting.

The committee decided to launch an initiative to train 30,000 workers and enhance their skills to work in factories at a total cost of LE 500,000 to be paid from the state coffers. It also approved an initiative to settle the problems of 310 defaulting factories with 15 banks and the union of banks taking part.

The committee also discussed exempting tourism sector of taxes on the period from last April until now. In addition, it decided to launch a project to reclaim 200,000 feddans starting from next April including 113,000 feddans to compensate property owners harmed by the law that organizes the relation between owners and tenants.

The committee has also decided to implement an initiative to drop due profits imposed on 13,000 chicken farms and to phase out the debts of chicken farms owners.

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