Cairo – Mubasher: The Egyptian minister of finance Mohamed Maait announced that the new law passed by the parliament on Monday on waiving interest and late fees on taxes has been extended to the end of December.

This regulation is in line with the country’s efforts to support businesses in the face of the coronavirus crisis, Maait added in a statement on Tuesday.

Under the law, 90% of the fees will be waived if the taxes are paid within 60 days from the date the law comes into effect, 70% if paid within 120 days, and 50% if paid within 180 days.

Moreover, 100% of interest payments and late fees will be waived if the due taxes are fully paid before the law comes into effect.