Author: Ola Noureldin

By Eid Said, Tax Consultant at Al Kamel Law Office, and a former First Undersecretary of State at the Egyptian Central Auditing Organization The Real Estate Tax was imposed in Egypt at the end of a ruling by Viceroy Mohamed Aly and limited to buildings in Cairo and Alexandria. That was until the issuance of Law No. 56 in 1954 that was eventually canceled by Tax on Buildings Law No. 196 for 2008, which introduced new provisions concerning assessing rent and imposing taxes on buildings. That encountered widespread criticism and forced the state to repeatedly delay implementation until Law No.…

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“At the end of the day, it’s the government’s role to create the optimal entrepreneurial ecosystem that wins,” says Nihal El Chami, program coordinator at Falak Startups. It might be tempting to say that all it takes to create a successful startup is talent, an idea, and money. Good entrepreneurs know it involves much more than that: a suitable market, for instance, and a sustainable competitive advantage. They understand the finer details and fuse them to create a more insightful image of the macro environment. Within that macro environment is the real dominant player: Government. While venture capital firms support…

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Burgeoning homegrown startup Swvl, a bus app founded two years ago in Cairo, raised $42 million in June on plans to expand further in Africa. The money came from international venture capital firms Vostok of Sweden, Dubai-based BECO Capital, China’s MSA and Endeavor Catalyst of New York. Swvl currently operates in Egypt, Kenya, Nigeria and Pakistan. However, it reportedly intends to move its headquarters to Dubai. “Investors and entrepreneurs look at Egypt’s legal framework as complicated and thus choose to go down the route of moving abroad,” says Cairo attorney Loay El Shawarby. Egypt has ramped up entrepreneurial activity during…

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