New Egyptian law reduces taxes on nightclubs and entertainment parties

The Egyptian People's Assembly approved yesterday a new law to reduce taxes imposed on the costs of nightclubs, theaters, cinema and opera.

In its final form, the new law dictated the reduction of taxes to 5% on the cost of Egyptian films and joint Egyptian - foreign films, 20% on foreign films, 10% on theaters, 5% on opera performances, ballets and circuses, and 10% on children's parties, public parties, and on ice skating.

Moreover, the new law also imposes 20% on horse race, 25% on video film presentations, 30% on discotheque parties, 5% on symphony orchestra and Arabian music performances.