Taxes
Google noted that it will charge the VAT on its “e-services unless we have your Egyptian Tax ID number”
The income tax imposed on individuals earning more than LE 1.2 million annually is expected to generate around LE 4 billion, said Mohamed Maait, Finance Minister, in a separate statement
Companies can now submit a pledge, either personally or through a legal representative, with a certified signature from banks
Egypt's law allocates a special account to organize spending measures of stragy animals
The amendment aims to lift the tax of “advancing financial resources” off both the components needed for local mobile phones production and the locally manufactured end product, while maintaining the same tax on imported counterparts used for commercial gains.
The draft law stipulates that “an Egyptian who has a valid residency abroad has the right to import one private passenger car for his personal use, exempt from taxes and fees that had to be paid to release the car, including the value-added tax and the schedule tax.
Minister of Foreign Affairs Sameh Shokry was received early on Monday by his Luxembourgish counterpart Jean Asselborn.
Abdel Kader pointed out that this comes within the framework of cooperation between the Ministry of Finance and the Authority with the MSMEDA to facilitate the owners of medium, small and micro enterprises to register at the tax authority.
Taxes digitization projects are a successful model for partnership with the private sector, as the national project to modernize and mechanize the tax system, with its various tributaries, is being implemented in cooperation with major international companies operating in Egypt.
Advisor to the Minister of Finance for Tax Affairs stated that an independent unit has been established in the Tax Authority for e-commerce, and decisive legal measures have been taken against violators.
The Egyptian minister said in a statement, Monday that the imposition of laws can only be done through legislation approved by the Cabinet and approved by the House of Representatives, and not by ministerial decisions.
Maait added that the real estate tax is one of the oldest types of taxes in the legislative system, noting that it is a tax imposed when real estate is disposed of by sale, and the burden of which is borne by the seller, not the buyer.
Any house valued less than LE 2 million will be exempted from tax but its owner should present his statement before the end of this month.
The tax, under the new law, will be a simplified one that doesn’t require records, documents or purchase invoices.
Maait stated in a statement Sunday that the four stages include: "Greater Cairo, Alexandria and West Delta, East Delta, the Canal and Sinai, then Upper Egypt."
This came during the weekly meeting of the Egyptian Cabinet headed by Mostafa Madbouly, where he discussed many important files and issues.
The draft law “canceling the exemption decided on the returns of treasury bills, bonds and capital gains resulting from dealing on these bills and bonds from income tax” approved by the Parliament's Plan and Budget Committee, will not affect the exemptions established in the agreements concluded between the government and foreign countries
The delay fee or additional tax due on these tax arrears will be waived by 90 percent, if the original tax or fees due are fully paid within a maximum period of 60 days from the date of work with
Maait thanked the companies who joined the experiment operation phase of the e-bill system.
The ministry asserted that it does not intend to slap new taxes on mobile services, either phone calls or SMS.
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