FILE: Ministry of Finance
CAIRO-2 December 2018: Minister of Finance Mohamed Ma’it revealed the reason behind the financial treatments of T-bills’ taxes, saying that it’s one of the rights of the treasury.
Ma’it notes the share of the treasury from the taxes wasn’t collected before.
He clarified that the taxes of T-bills are determined at 20% and the taxes of the profits are at 22.5%.
According to the minister, chairmen of banks asked to started working with this law after issuing it which took place last Wednesday.
He added that the government took into consideration the requests of banks and their chairmen.
This came during Ma’it’s speech at a conference held at the Ministry of Finance to declare the reasons behind the modifications of the custom dollar’s price the minister announced on Friday.
By the end of November, Ma’it announced raising the custom dollar to LE 18 for non-essential products, including: cars, some kinds of shoes, furniture and cigarettes.