Doing Business in Egypt  – an assessment and legitimate guide

 

Doing business in Egypt

Doing Business in Egypt  – an assessment and legitimate guide

Review and bookkeeping

Amid joining, an organization should express the

name of the examiner playing out the review in its Article

of Association. Certain sorts of organizations, including

banks and insurance agencies, are required to have two

reviewers said in their Articles of Association.

The money related records and the assessment form ought to be

arranged on a yearly reason for each monetary year, which

is normally a 12 month time frame. A special case to the control is if

the organization is joined following 7 days from its begin of

its money related year, at that point the organization may have an amplified

monetary year (23 months).

Documenting records ought to be set up as per

the Egyptian Accounting Standards and displayed to the

following experts (there are no recording expenses):

• Egyptian Stock Market (compulsory for Banks).

• GAFI

• Tax expert

Moreover, it is compulsory for specific sorts of organizations,

for example, banks, to distribute their yearly budgetary proclamations

in two national daily papers. The announcements ought to be

arranged as per the Egyptian Accounting

Standards; International Financial Accounting and Reporting

Norms might be set up for administration purposes

as it were.

It is legitimately required to keep up neighborhood books and records in

transcribed Arabic. Electronic recording of the books and

registers is additionally allowed.

The above bookkeeping, review and documenting necessities apply

where:

• The capital of the business surpasses EGP 50,000, or

• The yearly turnover is more noteworthy than EGP 250,000, or

• The yearly net benefit, as per the last duty

appraisal, surpasses EGP 20,000.

Supporting documentation should likewise be kept for the

passages in the books, and receipts are required to be issued

for any installments got.

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Create a Company in Egypt – Doing Business in Egypt
http://www.fathalla-cpa.com/
+201111114032
info@fathalla-cpa.com
#business #investing #trade #Egypt #Cairo

 

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