Pre-Trading Thoughts

The government yesterday announced its first batch of new amendments to the tax system, which aim to ease the burden on taxpayers. Amendments include: Launching a central clearing system, putting a cap on late payment penalties such that the penalty does not exceed the original amount of tax due, establishing a pre-inquiry service for both local and foreign and raising the exemption threshold for submitting a transfer pricing study for international companies to EGP30 mn, instead of the previ...