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    Export IT Commences for Third Year

    Date published: 29 August 2013

    More than 80 Egyptian ICT companies have registered its data and presented documents needed to benefit of Export IT program, launched by The Information Technology Industry Development Agency (ITIDA) on its official website last June for the third consecutive year.

    ITIDA aims, through this program, to support Egyptian companies in increasing its exports and reduce the effect of the economic slowdown.
    Documents presented by companies are being reviewed to make sure they fulfill requirements.

    Eligible companies are to be announced next October, as well as the disbursement of the due export subsidies.

    The program offers direct subsidy, up to a maximum of 10% of the added value on exports of beneficiary companies. According to the programís criteria, the value of the subsidy is calculated for export operations of the company, whose revenues were received during 2012. The maximum subsidy value is 500,000 US dollars per company for export operations in 2012. Companies are cash funded.

    Earlier, ITIDA announced the start of admission through data entry and update on its official website at Export IT Program. Among documents needed were application forms to join the program, financial reports and final accounts, income tax reports,  recent offprints of the commercial register, tax cards and other documents that can be obtained from ITIDA website. The final date for receiving documents required was July 31.

    In 2010, Export IT program was launched. A number of 68 companies applied to benefit from the program, 57 of which were accepted with a total subsidy of more than 21 million Egyptian pounds.

    In 2011, the number of applicant companies was 88, of which 76 succeeded in benefiting from the program, a total of 29 million Egyptian pounds worth of subsidies.

    In 2012, the number of applicant companies was 81, of which 73 succeeded in benefiting from the program, with  a total subsidy of 29.5 million Egyptian pounds.

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