5% maximum of 500 thousand pounds .. The secret of the amendment of the month fees and documentation for construction companies

Accidents

The Constitutional and Legislative Affairs Committee of the House of Representatives approved the government's draft amendment of Law 70 of 1964 on documentation fees and the month by setting a relative fee of 5% up to a maximum of 500 thousand pounds.

The new amendment aims to set a ceiling for documenting the budgets of construction companies so that they can apply for projects outside of Egypt. The explanatory note to the project indicated that the existing law requires imposing a fee of 5% on the value of the budgets of private companies as documented by the previous experience submitted with the balance of private companies.

The memo revealed that the 5% rate is calculated on the total balance of companies' balance, which has hindered Egyptian companies from documenting these budgets as a precedent for the work of contracting abroad. Which required that there be a legislative amendment, to put a ceiling on the documentation of these budgets, so that the contracting companies can apply for projects outside Egypt.

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