Latest in Tag: taxes Highlight
Latest in Tag: taxes
Egyptâs Talaat Moustafa posts 15% increase in Q1 net profit
Reuters – Egyptian property developer Talaat Moustafa posted a first-quarter profit after tax of EGP 160.8m ($23m) on Wednesday, up 15% from a year earlier, it said in an emailed statement. Revenues fell to EGP 1.14bn from EGP 1.52bn, it said.
Private sector fears âwealth taxâ will repel investment
Government says new 5% tax on income over EGP 1m will bring in additional resources for development projects; private sector sees additional burden on already strained economy
IMF no longer forces âstructural adjustmentâ: Lagarde
The crisis lender is sensitive to charges it dictates socially and economically harsh reforms on countries availing themselves of its support.
Tunisia gets $1.2bn from World Bank
It is the biggest loan package Tunisia has received since the 2011 revolution that toppled autocratic president Zine El-Abidine Ben Ali.
No increases in cigarettes selling prices: Head of Egyptian Tax Authority
Minister of Finance had earlier announced new selling prices
Government may raise taxes to meet expenditures: Finance ministry
Minister of Finance says additional revenue vital to reining in budget deficit
Consequences
So, the constitutional referendum, as expected, has passed with flying colours. Official results cite a turn out thatâs over 20 million people who voted Yes for the constitution by 98%. It is again worth noting that the supreme majority of those who voted for the constitution didnât bother reading it or care what was in …
Discrepancy between tax revenue and cash in CBE is normal: Tax Authority
Tax Authority announced that it has collected EGP 80.3bn, while the tax revenue in the CBE is EGP 49.81bn.
Finance minister discusses current economic situation and challenges for next government
Galal discloses that the CBE has held onto a $9bn deposit since the 1990s, which the government will use to finance its two stimulus packages
Editor’s Letter: Egyptians between the two Gamals (5 of 5): Sisi in Nasserâs suit, Sadatâs tongue and Mubarakâs fist
Since the ouster of President Mohamed Morsi on 3 July this year by the military with support of the masses, Egypt is witnessing a unique example of governance models: all-in-one leadership style. Officially, we have Mr Adly Mansour as the interim president of the country until the so-called roadmap is accomplished sometime hopefully this coming …
Bank provisions to be exempt from taxes: Ministry of Finance
Ministry says it has received cabinet approval for draft law, now awaiting presidential ratification
Property tax amendments to lessen economic burden on investors: Government official
Amendments to property taxes receive approval from cabinet, awaiting presidential approval
Editorâs letter: Egyptians between the two Gamals (2 of 5): The Mubarakonomics of dismantling Nasserâs state
Ousted president Hosni Mubarak had his own economic model that can be described as an incoherent blend combining the disadvantages of both capitalism and socialism in one entity. We can easily call it Mubarakonomics. A pro-rich neoliberal model in a fat nonfunctioning extremely centralised state. Under such a model, the middle and lower income groups …
Governmentâs mixed economic message comes under fire from analysts
While the government recently announced a EGP 29.6bn stimulus plan, it failed to detail its sources of financing, prompting many analysts to question its viability.
Amendments in Egyptâs general budget
New amendments aim to accommodate latest economic and financial developments
EGP 8.816bn in electronic payments made in monthly taxes and customs duties payments
An additional 1,200 post offices have also begun taking part in the system, bringing the total number of participating payment stations to 4,520. He added that the system had been set up during July and August of last year.
State employeesâ wages increase by 10%
The cabinet will raise basic wages of state employees by 10% in an attempt to âallow workers to afford basic life necessitiesâ
Finance minister promises no new taxes
Galal announced that no property taxes or income taxes would be modified âin order to not harm the economy.â
Egyptâs government cancels tax returns on properties
The law will affect all new homeowners, who will pay a tax of 10% on the total value of their property.
Expertâs expectations from the new government
The Daily News Egypt spoke to Egyptian economy experts to gain their insight on how the new government should manage the current economic crisis.
Disapproval over increased taxes on bank loan loss provisions
Banking figures dissatisfied with Shura Councilâs decision to raise taxes on loan loss provisions, likely to affect investments
Finance Ministry to reassess taxes on hotels and resorts
Egyptâs Finance Ministry rules that real estate taxes for hotels will now be determined by their âmarket replacement valueâ
Government cancels EGX dividends and gains taxes
Government official: No further NSGB-QNB deal taxes, any already collected to be refunded
OCI case pulls EGX down
Another meeting between OCI and the Egyptian Tax Authority scheduled for Sunday
IMF not satisfied with Egyptâs economic reform plans
A government source revealed last week that the IMF is displeased with Egyptâs implementation of its economic and social reform programme, raising concerns of further negotiations over the loan
Egypt Post to offer electronic tax payment services
The service will be available to individuals, companies and institutions, with 360 payment centres already up and running
OCI denies Sawiris brothers travel ban
The EGX30 plunged more than 126 points as news of the ban circulated
Stock market experts slam new taxes
The tax on transactions will have a âdisasterousâ effect on an already suffering market, they say
IMF loan talks to resume in March
IMF loan negotiations with Egypt are to resume early March after talks were postponed due to the countryâs political turmoil and economic slump, Morsiâs recent austerity measures aim to make Egypt eligible for the loan
Tax proposal draws tobacco industryâs ire
The government singling out the tobacco industry, says the Head of the Tobacco Division at the FEI