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Egypt

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In brief After several years of debate, the Egyptian government has introduced the Republic’s first standalone data protection law, which aims to regulate and protect citizens’ data online. On 15 July 2020, Resolution No. 151 of 2020 (the Law) (available in Arabic here) was published in the Official Gazette. The provisions under the new Law are modeled on the EU General Data Protection Regulation (GDPR) and the Law adopts similar concepts and definitions. It is…

Against the backdrop of continued business and societal disruption caused by the COVID-19 pandemic, M&A activity in the Middle East still showcased some stability in the first quarter of 2020, increasing in value by over USD 5 billion and in volume by 6 additional deals in comparison to Q4 2019, according to the latest report by global law firm Baker McKenzie*. “It is evident that the current global situation has caused a slow down…

On 15 April 2020, based on a study presented by the Egyptian Competition Authority (ECA), the Prime Minister issued Decision No. 17/2020 fixing the prices of some products needed to combat COVID-19 for at least three months ending on 14 July 2020 (the Decision). This Decision is the first successful implementation of Article 10 of the Egyptian Competition Law (ECL), which grants the Council of Ministers the right to fix the prices of strategic/essential product(s)…

In the wake of the COVID-19 health crisis, working-from-home has become the new normal, however, it does present a number of practical challenges, including how to execute legally binding documents. It has long been common practice for deal documents to be signed in counterpart, on different days, by signatories in different corners of the globe, but with our freedom of movement curtailed and home printing capabilities limited, feasible options are often restricted. Electronic contract execution…

With insights from Africa-focused tax advisers from Baker McKenzie and our network of African hub firms, we aim to provide you with regional updates and practical guidance on the tax implications of doing business across the large and diverse African continent. In this special edition of the Baker McKenzie Africa Tax Newsletter, we focus on the most recent tax-related developments in Ethiopia as well as other news and updates from the African region. Ethiopia enacts…