Latest in Tag: VAT Highlight
Latest in Tag: VAT
Paper invoices will not be considered in deducting or refunding VAT as of 1 July: Finance Ministry
The decision includes not taking into account paper invoices in deducting or refunding VAT starting from 1 July, so that only electronic invoices will be considered, with the exception of paper invoices issued by companies or establishments before they were obligated to implement the electronic invoice system as well as invoices issued by companies or establishments that the Tax Authority has not decided to obligate to transition to an electronic system, taking into account the technical specifications and standards of the electronic system contained in the executive regulations of the Unified Tax Procedures Law.
Egypt government aims to increase VAT on snacks, sweets to 14%
Naeem Research sees that the amendments, if approved, would affect snacks and sweet manufacturers badly, while they have already been negatively impacted by the novel coronavirus (COVID-19) pandemic.
Egypt’s Trade minister vows to resolve gas pricing, VAT crises for paper factories
Paper manufactures called for imposing protective tariffs on paper imports
ETA, Uber Egypt agree on mechanism to collect VAT: Finance Minister
The Minister of Finance, Mohamed Moeit, announced that an agreement was reached between representatives of the Egyptian Tax Authority (ETA) and Uber Egypt to collect the value added tax (VAT) from the tech firm in application of the provisions of Law No 67 of 2016. Moeit said that the agreement comes as result of the …
ETA considers including electric cars in discounted VAT or exempting them
Incentives for electric cars creates competitive market, will help companies to manufacture them: George
Car dealers to enter used vehicles market after applying VAT
The Ministry of Finance issued on Tuesday its decision no. 34 of 2018 which applies the value added tax (VAT) on the reselling of used cars in the local market, based on the difference in price between the resale and purchase price of used cars. Alaa Elsaba, chairperson of Elsaba Automotive Group—authorised distributor of a …
Real Estate Development Chamber receives complaints on applying VAT on administrative, commercial projects in violation of law
Applying VAT on rented administrative and commercial units violates the law that exempted these units from tax, says Shoukry
Foreign investors confident about outlook of Egypt economy: Fitch senior director
The rating agency expects Egypt’s economy to grow 4.5% in 2018
Who bears the brunt of the economic reforms?
President Al-Sisi pledged to protect vulnerable social classes against the impacts of the economic reform
No increase in prices of cigarettes and oils after increasing VAT to 14%: El Monayer
Increasing VAT by 1% will have limited impact, 57 categories of goods and services to remain exempted
Internet companies ask for extension to their exemption from VAT
Application of VAT raises prices of services: sources
Finance and health ministries agree to reduce VAT on blood bags to 1.3%
The political leadership orders easing the burden on the low-income patients: Al-Garhi
Minister of Finance issues VAT bylaws
The bylaws will provide tax refunds for exported goods and services
Tourism federation submits note to finance ministry to postpone VAT
July will see increase in visa fees from $25 to $60, along with higher tickets for archaeological sites
Finance Ministry presents tax reform plan of 2017
We are working to add amendments to the tax law to postpone capital gains and approve investment incentives in tax law: El-Mounir
Flotation, high lending interest rate, VAT negatively affect real estate investment activity: FEDCOC
Alaa Fekry, member of the Real Estate Investment Division at the Federation of Egyptian Chambers of Commerce (FEDCOC), said that real estate companies face several challenges in the current period which may adversely affect their expansion plans in the current year and increase the prices of real estate units. Fekry, who is also the chairperson …
Tourism sector pushes to postpone application of VAT for a year
Application of tax would increase prices by 100%, says Ahmed Balbaa
The implications of VAT on the automotive sector
In a seminar for Daily News Egypt, leaders in the automotive sector and tax authority were questioned about what the implications of the value-added tax are on the industry
Parliamentary Planning and Budget Committee suggests 10% tax rate for SMEs
I expect the government to introduce a tax law for discussion in the current legislative term, says MP Yasser Omar
Successful VAT implementation would be triumph for government, tax authority
New committee to be established for selecting leadership positions, says deputy finance minister
Economic legislation chaos in Egypt main reason behind decline in investments: Taher El-Khouly
Monetary policy in Egypt is vague and has hindered the movement of investors
Stability of monetary policy, simplified government measures attract investment: Infinix
Infinix Corporation, specialised in manufacturing smartphones, is working to develop after-sales services in the Egyptian market and plans to increase the number of its major maintenance centres. Business development manager at Infinix, Ahmed Wagih, told Daily News Egypt in an interview that the economic conditions in Egypt and the scarcity of US dollars have impacted …
Expected VAT proceedings set at EGP 20-22bn by end of this fiscal year: ETA Head
Head of the Egyptian Tax Authority, Abdel Moniem Matar, said that proceedings from the application of the value-added tax (VAT) are expected to reach EGP 20-22bn by the end of the fiscal year (FY) 2016/2017. During the second financial leasing conference on Tuesday, Matar said that VAT bylaws are expected to come out by the …
Egypt struggles to implement IMF’s conditions before board meeting
The foreign exchange reserves registered $19.59bn in September, an increase of 18.2% compared to August, says the CBE
In Cartoon: No one is safe from Egypt’s new tax policy
Despite challenges, insurance companies thrive in stability: Moody’s
Moody’s forecasts insurance expansion as economy stabilises and recovers, despite glaring structure concerns
The imminent real estate bubble
New Cairo, coastal projects in danger; VAT increases residential units’ prices
Train of tax reform stops in the middle of the trip
Intense focus on the issues associated with the programme presented to the IMF at the expense of the rest of aspects
Philip Morris Misr announces official list prices post-VAT
The support for the decision comes in the hope that the VAT law will end production shortfalls and price fluctuations
NTRA, Finance Ministry determine application mechanisms of VAT on top-ups
The agreement includes not changing prices after the tax is increased to 14% next year