Egypt Law : Social Responsibility of the Investor
The Investor shall have the right to dedicate a percentage of his profits to participate in the social development outside of the Investment Project through participation in all or any of the following aspects:
1) Take the necessary action to protect and enhance the environment, whether in terms of obligation with the compatibility of the product or service provided by the company with the environment, or by improving the environmental circumstances in the society and remedying the different environmental problems, including but not limited to: - To find a mechanism for recycling wastes. - To use treatment plants for reusing water. - To use the new and renewable energy. - To dispose wastes safely. - To minimize the global warming gas emissions and any projects to adapt with the impacts of the climate changes.
2) Provide services or programs in the areas of healthcare, social care, or cultural care, or other development areas, whether through any of the following: a) Providing employment opportunities for those of special needs. b) Sponsoring of the youth and sporting activities. c) To take care of talented persons and inventors (in scientific, technical or sporting field). d) To participate in the programs of the poor family care, and enhancement of the living standard of the population. e) Funding of the awareness campaigns targeting promotion of the safe immigration or limiting of illegal immigration, the qualification and training programs in the area of providing positive alternatives for the illegal immigration, such as the programs of entrepreneurship or training for employment at the different industrial and service sectors in Egypt and abroad, especially in the target governorates where such phenomenon spreads, in cooperation with the Ministry of Youth and Sports, the Ministry of Labour Force, and the Ministry of State for Emigration and Egyptian Expatriates Affairs.
3) Support the technical education or the funding of research, studies, and the awareness campaigns aiming at developing and improving the production, in agreement with any of the universities or scientific research institutions, inside or outside.
4) Training and scientific research to ensure updating of the technology used in the production and preparing of the studies aiming to improve the environment and avoid the harmful effect (such as harmful emissions).
The funds spent by the investor on any of the fields set forth in the previous paragraph which do not exceed 10% of his net annual profits shall be deemed deductible costs and expenses pursuant to clause (8) of article (23) of the income tax law referred to.
