حفلة 2024

Egypt approves green hydrogen incentives law

Egyptian President Abdel Fattah El-Sisi ratified Law No. 2 of 2024 to provide incentives for green hydrogen production projects and their derivatives, after the Egyptian House of Representatives approval, the Middle East News Agency reported on Tuesday.

It outlines tax and non-tax incentives and sets the term of the project agreement with the government for utilisation of seawater’s natural resources for 30 years.

The law offers green hydrogen projects and their derivatives a tax incentive ranging from 33 per cent to 55 per cent of the paid tax value. It also approves the tax on income from the project or its expansions.

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