General Motors Egypt May Pay EGP1bn Taxes by 2014-End

The total value of taxes and customs which will be paid by General Motors (GM) Egypt Company up EGP1 billion within 2014, Tarek Atta Managing Director expected.

GM paid around EGP780 million within the last fiscal year 2013, noting that the company is planning to continue pumping new investments in the Egyptian market by the coming period, Atta noted.

This comes during the inspection tour which conducted by the Egyptian Minister of Industry and Trade Mounir Fakhry Abdel Nour to the company’s production lines for the Sixth of October City, in the presence of Mario Spangenberg President and Managing Director General Motors Africa.

Moreover, GM supports ‘Made in Egypt’ logo as the ration of domestic component for commercial transport vehicles reached more than 60%, noting that the company’s new investments focus on The development of mechanisms manufacturing.