Parliament Deputy Speaker Mohamed Abou El-Enein raised multiple questions on Monday regarding a bill to establish a charitable endowment fund.
During the plenary session, Abou El-Enein wondered if part of the assets in the endowments would be transferred, noting that in some cases, real estate tax is exempted.
“What about the value-added tax for those who carry out endowment operations?” the parliament deputy speaker asked.
On the same page, he underlined the importance of the bill, particularly when there are major institutions such as Qasr El Eyni Hospital, Cairo University and many more which are endowment lands.
He also affirmed that the most important issue is how to motivate citizens to pay money in development projects for the benefit of the charitable endowment.
In this sense, he stressed the need for a clear plan to promote this bill, and motivate citizens to pay money for the endowment.
