Latest news with #Damietta
Al Bawaba
19-05-2025
- General
- Al Bawaba
Egyptian military jet crashes in Ras El Bar, crew killed in training mishap
Published May 19th, 2025 - 04:02 GMT The incident occurred near Beach 63 in Ras El Bar, located in the northern Damietta Governorate. ALBAWABA— An Egyptian military fighter jet crashed during a routine training mission on Sunday, killing all crew members on board, according to a statement from the Armed Forces' Military Spokesman. The incident occurred near Beach 63 in Ras El Bar, located in the northern Damietta Governorate. Preliminary reports suggest that the crash was caused by a technical malfunction. Conflicting early accounts initially indicated that the aircraft fell into the sea without casualties, but official confirmation later stated that the crew did not survive. Also Read Houthis urge evacuation of Ben Gurion airport This marks yet another in a series of military aviation accidents in Egypt in recent years. In November 2024, two officers died in a helicopter crash during training in the Suez Governorate, also reportedly due to mechanical failure. A similar incident occurred in November 2022, when a fighter jet crashed during a training exercise. © 2000 - 2025 Al Bawaba (
Zawya
15-05-2025
- Business
- Zawya
Egypt launches specialized tax units to boost business confidence
Egypt - Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), has announced the establishment of several specialized units designed to support businesses and streamline tax processes. The new units—Investor Support, Advance Tax Rulings, and Tax Complaints—form part of a broader initiative to enhance responsiveness to investors and improve the overall tax environment. The Investor Support Unit aims to simplify procedures and foster a more investment-friendly climate. The Advance Tax Rulings Unit allows taxpayers to request binding, official interpretations of their tax obligations before conducting transactions. Meanwhile, the Tax Complaints Unit will handle taxpayer grievances promptly and professionally. The announcement came during the Tax Facilitation Package Conference in Damietta, held under the auspices of the Future of the Nation Party and in coordination with the Tax and Customs Committee of the Federation of Egyptian Industries. The event brought together regional tax office leaders, business divs, manufacturers, craftsmen, and representatives from industry chambers. Abdel Aal highlighted the significant tax system reforms launched in 2018 by the Ministry of Finance and the ETA, including the introduction of electronic tax returns, a core tax system upgrade, e-invoicing, e-receipts, unified wage tax calculations, and improved digital infrastructure integrated with government systems. 'While we've made considerable progress—recognized both locally and internationally—we paused last July to assess our achievements and address challenges,' she said. 'This led to the rollout of the first phase of the Tax Facilitation Package, which aims to create a more just, efficient, and transparent tax framework.' A cornerstone of this reform is a simplified tax system for businesses with annual revenues up to EGP 20m. Under Ministerial Decree No. 167 of 2025, businesses enrolling by 12 August 2025 will be exempt from past tax liabilities. The new system eliminates complex bookkeeping and returns, calculating income tax as a fixed percentage of turnover and applying uniformly across all sectors. Businesses exceeding the EGP 20m threshold will transition to the general tax regime but still benefit from initial simplified entry. To enroll, taxpayers must submit Form 1/10 via the ETA website and opt into the system under Law No. 6 of 2025. Participants must also file simplified returns, join the e-invoice and e-receipt systems where applicable, and follow unified wage tax guidelines. Notably, enrolled businesses will be exempt from tax audits for five years. Additional relief includes quarterly VAT filings and annual payroll tax submissions, reducing administrative burdens. Late payment penalties are also capped at 100% of the original tax due. Abdel Aal concluded by reiterating the ETA's commitment to building a fair and supportive tax environment that promotes transparency, facilitates compliance, and encourages investment across Egypt.
Zawya
12-05-2025
- Business
- Zawya
Egypt: Madbouly inaugurates $19mln dry bulk wheat terminal in West Port Said
Arab Finance: Prime Minister Moustafa Madbouly has inaugurated an EGP 1 billion dry bulk wheat terminal in West Port Said Port, according to an official statement. The terminal has a storage capacity of 100,000 tons and an unloading capacity of 1,200 tons per hour. Sherif Farouk, Minister of Supply and Internal Trade, stated that the project represents a qualitative addition to Egypt's silos system, bringing the number of port silos designated for subsidized wheat to six. There are two port silos in Alexandria Port, two in Damietta Port, one in Safaga Port, and one in West Port Said Port. Total storage capacity stands at 530,000 tons, with an annual handling capacity of 6.4 million tons. On his part, Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), said the project marks a comprehensive model for integrating logistics and food services within Egyptian ports. Gamal El-Dien highlighted that the dry bulk terminal covers an area of 15,251 square meters and includes eight storage cells, with a total storage capacity of 100,000 tons. The project aims to receive ships with large loads exceeding 65,000 tons. The terminal is expected to receive between 23 and 36 ships annually, securing around 275 direct and indirect job opportunities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
