In brief In a significant development, the National Council for Wages has finally set the long awaited salary thresholds applicable to the private sector: Minimum wage: EGP 2400 per month Minimum annual salary increase: 3% per year These changes which are implemented by virtue of decree No. 57 of 2021 will apply as of 1 January 2022. What has changed? Effective January 2022: All companies must ensure that their employees receive no less than EGP…
In brief Across the globe, transfer pricing disputes have increased following a waterfall of changes, e.g., BEPS, increased transparency, global compliance obligations, intangibility of value creation and digitized taxation. The pandemic added its synchronized impact by provoking countless economic and social ripples on the already turbulent waters. Against this backdrop, the Middle Eastern economies are battling lower oil prices and budget deficits, which in turn increase the pressure for fiscal receipts. In the last couple…