Cairo – Mubasher: The Egyptian cabinet announced that due income taxes for 2019 owed by companies operating in 10 sectors would be paid over installments until 30 June without any late fees.
This move is aimed at helping businesses hardly hit by the economic disruption caused by the novel coronavirus (COVID-19) outbreak, the finance minister Mohamed Maait said in a statement on Sunday.
The decision covers several sectors, including aviation, tourism, including restaurants and coffee shops, hotel, media, industries excluding those operating in food, healthcare, and detergent industries, transportation, car dealerships, hospitals, contracting, some programming and telecommunications companies, and clubs and sport-related establishments.
Income taxes will be paid in installments as such 20% of due taxes in April, 30% in May, and 50% before the end of June.
