In order to further attract energy investments in the energy sector (including renewable energy sector) in the country, in 2015 Egypt adopted substantial amendment to its Investment Law from 1997. Incentives include trimming sales tax to 5% from as high as 10%, and setting customs duties on equipment used for production at 2%.
Following non-tax incentives are offered to energy producers:
- Refunding the expenses paid to extend infrastructure facilities to the project’s land. Such refund will be after the commencement of the project.
- Subsidizing the technical training programs of the employees as well as the social insurance subscriptions.
- Allocating the land owned by the government free of charge or at discounted prices.