Egypt Independent

Red Sea investors demand tax exemption



Tourism sector investors in the Red Sea demand to be exempted or to defer the payment of taxes for a year, said Undersecretary of the Finance Ministry and Chairman of the Real Estate Tax Authority Samia Hussein.
 
The Tax Authority pledged concessions in this regard to help the tourism sector face the current crisis, she added in a statement following a meeting with investors in Sharm el-Sheikh on Tuesday.
 
They demanded that they not pay taxes on entertainment events, especially with expectations of fewer events, according to Hussein.
 
The Finance and Tourism ministries will sign a protocol soon on the rules of real estate taxes relating to tourist and hotel establishments, she said, adding that the demands will be submitted to the finance minister and the prime minister.
 
 
Edited translation from Al-Masry Al-Youm