While checking the FY2022/2023 draft budget, President Abdel Fatah al-Sisi instructed the government to immediately prepare a bundle of financial and social protection measures.
A committee should be formed to oversee the new system, which is meant to encourage shopping tourism in a way that would help turn Egyptian resorts into international shopping hubs, Maait noted.
This comes in light of what has been confirmed by international experiences and studies that the best solution is always to involve the citizen in reporting transactions.
Minister of Finance Minister Mohamed Ma’it presented the proposed amendments of some provisions of the VAT law to the Ministerial Economic Committee.
That is two weeks after he was sentenced to five years in prison by Tax Evasion Misdemeanor Court.
This agreement comes as a result of the fruitful cooperation between the Tax Authority and Finance Ministry to settle any tax or customs conflict.
Ireland boosts budget spending as Brexit looms.
In light of volatile economies the world faces nowadays, Bloomberg reviewed Egypt's economy in a report, referring to it as the traders’ refuge from volatility.
The ministry’s decree comes in light of the implementation of the comprehensive social health insurance system.
Egypt and Japan signed Sunday a grant agreement to support the establishment of an electronic system for calculating value added tax (VAT).
Tax revenues in the current 2017/18 fiscal year reached LE 248.8 billion, compared to LE154 billion last year, increasing by 61 percent, Deputy Finance Minister said.
The fund forecasts Egypt economy to expand further to 4.8 percent in 2017/18 and to 6 percent in the medium term.
Saudi King Salman on Saturday ordered a monthly payment of 1,000 riyals to state employees over the next year in compensation for rising cost of living.
German tax investigators seized goods and accounts of 100 Chinese online retailers selling products via Amazon.com in Germany and failing to pay sales taxes.
Saudi Arabia and the United Arab Emirates introduced value-added tax from Monday.
One year after the pound float, the middle class is dealing with soaring prices by juggling several jobs and cutting corners.
The prices of cigarettes will increase by LE 2-3 per pack according to the new amendments.
The cigarettes price hikes are considered to be the third since the flotation of the Egyptian pound.
The amendments came to balance the budget and control the budget deficit.
The law aims to accelerate often lengthy tax disputes by resolving them through a committee of independent experts, instead of courts.