TIMEP Brief: Investment Law

Source: The Tahrir Institute for Middle East Policy

Author(s): TIMEP

Original Link: https://timep.org/reports-briefings/timep-brief-investment-law/

The Investment Law promotes remote and underdeveloped regions by offering tax breaks of up to 50 percent for investments in these areas, though companies are only eligible for the tax breaks if they are established within a three-year period of the issuance of the law’s implementing regulations. Additionally, the law offers rebates on land acquisition costs for factories, primarily in underdeveloped regions, as long as they begin operations within a two-year period after breaking ground. The law reestablishes free zones that are subject to a two-percent fee on generated revenues to be collected and evenly split between the Ministry of Finance and Ministry of Investment. The law also expands its scope to industries not previously eligible for incorporation under previous investment legislation, such as education, sports, and waste recycling, representing an increase in the types of businesses that will be eligible to incorporate; previously, recognized industries had primarily included manufacturing, such as automobiles and pharmaceuticals.

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