Tax revenues surged 21% annually in FY2022/2023, Finance Minister

Sun, 11 Feb 2024 - 06:08 GMT

The minister added that Egypt has accumulated around LE 171 billion in the July 2023 – January 2024 period

Egyptian tax authority releases new tax regs. for small businesses

Tue, 23 Jan 2024 - 05:11 GMT

The new tax system stated that establishments with a business turnover below LE 250,000 will be subject to an annual tax of LE 1,000

Maait meets with FEDCOC delegation to discuss importance of stable tax policies

Mon, 06 Nov 2023 - 12:27 GMT

The minister met with delegates from the General Federation of Egyptian Chambers of Commerce (FEDCOC), and its president, Ahmed El Wakil

Egypt’s Ministry of Finance potentially working on new tax policy, media

Tue, 24 Oct 2023 - 01:04 GMT

The first draft of the new policy has been completed, the source revealed, and will likely be finalized and ready for public viewing as early as next month. The new policy is intended to promote investment and investor confidence

MPs approve draft bills to raise tax exemption threshold, pension, and cost-of-living allowance

Mon, 16 Oct 2023 - 11:57 GMT

In a report by the House of Representatives Planning and Budget Committee on the draft bill released last month, this would ease the tax burden on low-income citizens and is in line with the state's commitment to promoting social justice

Egypt seeks to boost tax-to-GDP ratio, intends to avoid adding burden on citizens

Mon, 16 Oct 2023 - 11:16 GMT

According to the finance minister, Egypt seeks to improve the ratio by expanding automated tax solutions, specifically targeting the integration of the informal economy into the formal economy

Revenues from taxes allegedly reached LE 250B during Q1 of current fiscal year

Wed, 11 Oct 2023 - 05:05 GMT

Officially, a recent Ministry of Finance release reported it recorded a surge in tax revenues by 27.5 percent, reflecting the ministry’s digitization efforts

Exports, taxation at center of suggestions in National Dialogue's session on manufacturing sector

Wed, 06 Sep 2023 - 03:13 GMT

Participants in the National Dialogue's manufacturing session stipulated Tuesday the necessity of boosting the volume of exports, making commercial attaches more effective, and setting a national strategy to develop the sector.

Egypt's National Dialogue: proposal to incriminate owners of informal enterprises

Wed, 06 Sep 2023 - 03:10 GMT

Economic Expert and Member of Al Masreyin Al Ahrar (The Free Egyptians Party) Mohamed Badra attended Tuesday the National Dialogue's session on public debt and budget deficit putting forward two suggestions.

Maait underscores Egypt’s positive financial performance, GDP deficit down to 6%

Thu, 10 Aug 2023 - 11:35 GMT

These, and the continuous efforts to mitigate the negative effects of global challenges, demonstrated Egypt's strong management of public finances, Maait said

Finance Minister confirms approval of draft law canceling preferential tax treatment for state-owned companies

Wed, 12 Jul 2023 - 05:40 GMT

The draft law will cancel all legal provisions granting preferential treatment to state-owned companies, the PM explained

Google will apply new 14% VAT on its services in Egypt on 1st of July

Sun, 04 Jun 2023 - 04:04 GMT

Google noted that it will charge the VAT on its “e-services unless we have your Egyptian Tax ID number”

Income Tax Law amended, increases annual income tax exemption to LE36,000

Tue, 30 May 2023 - 12:20 GMT

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

Egypt to facilitate VAT exemptions for imported production equipment

Thu, 18 May 2023 - 03:40 GMT

Companies can now submit a pledge, either personally or through a legal representative, with a certified signature from banks

Egypt's law allocates special account for spending measures of stray animals

Tue, 04 Apr 2023 - 11:09 GMT

Egypt's law allocates a special account to organize spending measures of stragy animals

Egypt approves lifting taxes on imported mobile phones components

Mon, 20 Feb 2023 - 06:34 GMT

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.

Egypt allows expats to import passenger car without customs duties

Thu, 13 Oct 2022 - 03:37 GMT

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.

Egypt, Luxembourg discuss concluding agreements on double taxation avoidance, aviation services

Mon, 20 Jun 2022 - 11:14 GMT

Minister of Foreign Affairs Sameh Shokry was received early on Monday by his Luxembourgish counterpart Jean Asselborn.

Egypt's Tax Authority announce facilities for owners of MSMEs

Sun, 03 Apr 2022 - 01:29 GMT

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.

Egypt aims to raise private sector's contributions to economy to 50%

Mon, 01 Nov 2021 - 02:23 GMT

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.