The laws have been published in the Official Gazette.
Earlier this month, the House of Representatives approved new cabinet-drafted amendments to 2005's Law on Protection of Competition and Prohibition of Monopolistic Practices, which impose tighter controls on monopolistic practices to protect free competition. These amendments give the Egyptian Competition Authority (ECA) greater powers to exert apriori control over economic concentration transactions to ensure free competition.
In November, the parliament approved new amendments to the Real Estate Registration in New Urban Communities Law 27/2018 to regulate real estate procedures and remove obstacles facing citizens in registration issues.
Meanwhile, the new amendments to the Unified Tax Procedures Law 206/2020 that aim to fight different forms of tax evasion received the House’s final approval in November 2020. According to these amendments, those who fail to submit tax statements or evade paying taxes face tougher penalties, including fines ranging from EGP 50,000 to EGP 2 million.
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