Antitrust Update: Egyptian Competition Authority Announcement
Following the enactment of the pre-merger clearance regime (the “New Regime”), repealing the post-merger notification regime and introducing the pre-merger clearance regime, the Egyptian Competition Authority (the “ECA”) has released a statement on its official website (the “Statement”) clarifying to the market the plan of action with regards to the New Regime. In the Statement, […]
read moreAntitrust Update: Ratification of the Pre-Merger Clearance Regime
The much-anticipated pre-merger clearance regime (the “New Regime”) has finally been enacted by virtue of Law No. 175 of 2022 amending the Egyptian Competition Law No. 3 of 2005 (the “Amendments”). The Amendments have been published in the Official Gazette on 29 December 2022, the last working day of the calendar year, and have become […]
read moreAmendments to the VAT Executive Regulations offer New Incentives for End Consumers, Retailers and Service Providers
As part of the growing efforts to improve the Egyptian taxation system and the efficiency of the tax collection process, amendments to the Value Added Tax (“VAT”) Law executive regulations No. 77 of 2017 (the “Executive Regulations”) have been enacted. The amendments aim to enhance the use of electronic tax invoices by retailers and service […]
read moreSecuritization of Future Cashflow: New Milestone for a Diversified Financial Market
Following amendments to the Capital Market Law earlier this year introducing issuance of bonds covering future cashflows, the Financial Regulatory Authority’s (“FRA”) Board of Directors Decree No. 115 of 2022 (the “Decree”) introduced more implementation details relating to future cashflow securitization. We will outline the major provisions of the Decree below. General Conditions Securitization companies […]
read moreSupplements and Complementary Medical Products to Fall under EDA Jurisdiction
On 8 September 2022, the Egyptian Drug Authority (“EDA”) issued Decree No. 572 of 2022 (the “Decree”) transferring the registration of supplements and complementary medical products (collectively “Supplements”) from the EFSA to the EDA. We shall delve into the key highlights of the Decree as follows: Key highlights of the Decree Supplements are defined as […]
read moreDiversification of the Egyptian Green Economy: New Financial Instruments for a Sustainable Future
Prime Minister Decree No. 3456 of 2022 amending the executive regulations of the Capital Markets Law No. 95 of 1992 (“CML”) introduced new sustainable investment bonds while amending the overall framework of investment funds (the “Amendments”). The Amendments were enacted conveniently in line with Egypt hosting the 27th Conference of the Parties to the United […]
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