About Export IT:

Aiming at increasing IT/ITES exports to 1.1 billion USD by the end of  2010, the Information Technology Industry Development Agency (ITIDA) is launching an Export Rebate Program (Export IT) to help Egyptian companies increase their exports from IT products and services and minimize the impact of economic downturn witnessed in the last year. The program aims to benefit exporting Egyptian IT companies and has been designed based on the needs of the industry with the support of the NGOs. 

Program details:

• Rebate will be 10% on IT service-software products and services

• Rebate will be granted on the value-added component only, excluding cost of goods sold (material costs, software licenses…etc.)

• The ceiling rebate amount is set at 500,000 USD per company per year

• The rebate will be on cash-bases rather than accrual-bases  (companies are eligible for the rebate once cash is received in  their bank accounts)

The export rebate grants will apply to payments received for exported products or services during the full year of 2009.

Beneficiary Companies:

All exporting companies meeting the following eligibility criteria and providing the required documents:

Eligibility Criteria:

Eligible companies for the program should have the following criteria:

• Egyptian-owned company with more than (50% Egyptian ownership or under control of Egyptian Board for public companies).

• Headquartered in Egypt, at least 80% of company payroll is based in Egypt.

Required Documents:

• Audited financial statements (balance sheet and income statement) for 2009, approved by certified auditors

• List of export sales transactions for 2009

• Signed contracts/agreements with overseas clients pertaining to the transactions listed in the application form, describing and breaking-down the projects’ deliverables

• Sales Invoices for exported items

• Purchase Invoices for purchased materials (software licenses…etc.)

• Headcount report per export transaction/project, detailing the number of people and hours worked.

• Overseas client sign off or acceptance statement for confirmation of receipt of goods and/or services where applicable

• Bank documents demonstrating receipt of export revenue (statements, wire transfers, credit advice…etc.)

• Income tax report

The process:

Upon registering in the program, an email will be sent to all eligible candidates to start submitting the required documents above in order to complete the application process.

All applications will be received and reviewed by the Export Rebate Committee which will compile all approved applications and recommend issuing the rebate.

For more information on how to apply, please call 16CIT (16248).