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First Tax Sukuk Talks Begin
Egypt’s Tax Authority has opened a public consultation on the first issuance of tax sukuk, giving the business community and taxpayers no more than 10 days to submit their views and proposals by email. The sukuk allow taxpayers to invest their available funds and earn a tax-exempt return, then use the sukuk’s principal and return to pay income tax due. They may also redeem all or part of the principal before maturity. The Authority is reviewing the proposals as it finalizes the rules and procedures for the issuance.
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