Latest in Tag: VAT Highlight
Latest in Tag: VAT
World Bank loan contingent on parliament’s approval of VAT: ministry source
Lack of funding and experience are main obstacles for SMEs, says minster of international cooperation
Expected regulations to resolve tax disputes
Government’s FY 2016/2017 budget draft estimates tax revenue of EGP 35bn from VAT and EGP 2.4 from property tax
Tax Authority collects EGP 200bn since last July, head says
Revenues from taxes are expected to record EGP 422bn in FY 2016\2017, El-Monayer says
Egypt discusses tax reforms in IMF-World Bank meetings
Egyptian delegation agreed with IMF officials to cooperate in studying methods to enforce VAT law
Implementation of VAT to generate EGP 35bn in FY 2016/2017: Ministry of Finance official
Parliament is yet to discuss and vote on the implementation of the Value Added Tax
Cloaks and dollars: World Bank’s $1bn, VAT, and misalignment within government
An attempt to provide an account of the brief history of the World Bank loan agreements, negotiations surrounding VAT, and the implications of parliamentary intransigence
As dialogue for VAT continues, details remain vague
Finance Ministry refuses to disclose tax price, bases its refusal on fear of market fluctuations
GCC States approaching towards tax reforms: Deloitte
Saudi Arabia is committed to BEPS initiative and OECD action plan
Fitch affirms Egypt’s ‘B’ rating, Dimian responds that economy is ‘resilient’
Introduction of VAT has been delayed, according to agency
Amer informs Ministry of Finance of banks’ rejection of VAT
A high-level meeting was held between Ministry of Finance and CBE to discuss a solution
VAT to raise taxes on cars with capacities less than 1,000 litres: ETA
Services and spare parts sectors to be subjected to the general tax rate instead of the current 10%, says Salah Yousef
Government did not yet determine VAT rate, execution depends on political leadership: Head of ETA
The burden on citizens will not increase after tax application
Tax increase of flight tickets to bring in EGP 600m: Tax Authority head
Current taxes collected from flight tickets amount to EGP 270m
Dimian reassesses his new plan
The minister’s statements did not address any change in the tax plan
Mid-term deficit revision expected during Q1 of FY 2016/2017: Dimian
Average spending of top 10% tranche to increase by 5.3%, while lowest 10% will increase by 0.05%
Taxes on commercial, industrial activities to significantly increase under VAT
Tax will rise from EGP 54,000 to EGP 500,000 for industrial activities, while commercial actives will generate a tax rise from EGP 150,000 to 500,000
Standard & Poor’s positive outlook on Egypt reflects well on investment: Economist
Agency raised Egypt’s economic outlook from stable to positive, affirming long- and short-term foreign and local currency sovereign credit ratings at ‘B-/B’
VAT law will raise inflation indicators, reduce purchasing power of consumers: Dcode Chairman
Only 20% of consumers are aware that there is an impending increase of VAT on their usual purchases, says Nielsen General Manager
$500m to be invested by PepsiCo in Egypt in 2015: GM
The new investment law is there, but we need the government to make it happen, says Ahmed El-Shaikh
Key economic decrees in 2014
2014 witnessed several presidential and ministerial decrees that changed economic landscape
Coalition of NGOs rejects government plans to apply VAT
Groups claim that tax applied on all products and services could ‘prejudice’ rights of citizens
President Abdel Fattah Al-Sisi to Daily News Egypt: Egypt’s Blueprint for Stability, Investment and Growth
Growing confidence also rests on the structural reforms the government has already implemented – as well as on the many additional reforms still in the pipeline – to correct fundamental deficiencies in our economy.
Enough GCC aid will be made available: Merrill Lynch
IMF engagements on the other hand, are not expected to take place
Talks on applying VAT ongoing: Finance ministry
Egyptian government struggles to increase its revenue through reforming tax system and keeping deficit under control
IMF says Lebanon economy to grow by 4% in medium term
Reuters – The International Monetary Fund forecasts Lebanon’s economy will grow by 2% in 2014 and a “modest 4% over the medium term,” despite two years of violence, political paralysis and a huge refugee influx. But with heavy pressures weighing on the economy, the IMF also said in a report published on Friday that Lebanon …