"Republican people": Amendments to the laws of the “money and tax market” that supports the economy and attracts 5 billion annually
Representative Ihab Wahba, Chairman of the Parliamentary Authority of the Republican People’s Party in the Senate, announced his approval of what the Financial, Economic and Investment Committee has ended in studying the legislative impact of the article ( ۲۹) From Law No. (95) of 1992 regarding the issuance of the Capital Market Law on Direct Investment Activities and Risk Capital, and Articles (46) bis (2, 50) of the Income Tax Law issued by Law No. 91 of the year ۲۰۰ 5, with regard to incentives and tax transactions ."RTL"> ."RTL"> Wahba pointed out that the Capital Market Law, and the Tax Law, went through large periods of them and needed to amend the development of performance ."RTL"> Senator explained that there is a strong impact on that law on small companies and entrepreneurship, stressing that these amendments are able to attract 5 billion pounds annually ."RTL"> Wahba pointed out that the establishment of a risk and investment company is very complicated, announcing that the proposed amendments to the law contribute to supporting the emerging economy, and providing the necessary financing, especially since these companies do not have guarantees to obtain loans ."RTL"> Wahba considered that the study submitted by Representative Sameh Al -Sadat regarding the study of the legislative impact of Article 29 of Law No. 95 of 1992 regarding the issuance of the Capital Law on the direct investment and capital activity and the risks and the two articles (46 bis 2, 50) of the Income Tax Law issued by Law No. 91 of 2005, contributes to providing the necessary funding for medium and small companies, especially startups and entrepreneurship companies that stumble due to the lack of necessary financing, especially in light of the current economic conditions ."RTL"> & nbsp;
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He continued: that & quot; direct investment and risk capital companies can provide the necessary financing through their ability to collect funds from different investors in investment funds and distribute them to companies that need financing, and then the risk capital, for example, is a way to finance these projects better With a lot of borrowing and a suitable way, to support these companies that do not have guarantees in borrowing from banks & quot;."RTL"> He continued: & quot; the improvement of the Egyptian business environment due to the clear government efforts in this regard is a factor to attract foreign investors in direct investment or in capital risk in the Egyptian market, specifically in startups that are the future of the Egyptian economy, and these companies have many incentives and facilities According to the many Egyptian laws, the most recent of which was the amendments to tax laws, facilities and tax incentives for medium, small and micro projects and informal economy projects, which means the integration of Egyptian legislation in order to support the national economy & quot; ."RTL"> Wahba mentioned that one of these activities, which is the activity of entrepreneurship, is able to attract investments worth $ 5 billion annually, as well as the direction of many newly graduated Egyptian youth to join these companies, in the hope of launching his own project, and then there is an urgent need to amend the framework The legal legal of the risk capital companies, because the current legal framework is very complex and is not commensurate with the flexibility necessary for the work of these companies and their growth inconsistent with the philosophy of government efforts to attract foreign investments and mobilize local investments & quot; ."RTL"> The deputy concluded that this causes the state’s public treasury loss from increasing the tax revenue due to the lack of growth of direct investment activities and capital the risks working in Egyptian projects, which causes the lack of growth of these companies and then the low tax revenue, as well as the ability to provide a lot of job opportunities and develop the structure Infrastructure in the country and other benefits that belong to the Egyptian economy due to the recommendations mentioned in this report, and the maximum benefit from risk capital companies, enhance economic growth and sustainable development ."RTL"> & nbsp;
