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Tax Experts Detail 5 Benefits of the 'Your Farm in Egypt' Initiative
The article discusses the "Your Farm in Egypt" initiative, which aims to encourage expatriates to invest in the agricultural sector as part of the national project for one and a half million feddans. The initiative offers several tax benefits, including full exemption from land reclamation profit taxes for ten years, as well as exemption for poultry and beekeeping projects for the same period, with land tax currently suspended. However, the initiative faces challenges such as the difficulty of managing projects remotely, currency fluctuations, and the need for significant liquidity, especially since the lands are located in remote desert areas. To ensure the success of the initiative, proposals include providing professional management companies, linking farms to food manufacturing projects, promoting contractual farming, and enhancing online agricultural extension and consulting services.
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