Imports not charged new FX VAT, finance minister

Tue, 28 Nov 2023 - 11:52 GMT

Minister of Finance, Mohamed Maait, shared that the new value-added tax (VAT) in foreign currency does not apply to imports, mitigating some importers’ concerns over the latest amendments to the tax law

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”

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

Egyptian president instructs government to prepare bundle of financial measures to face global economic downturn

Mon, 21 Mar 2022 - 11:02 GMT

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.

Finance Ministry: E-system to ease VAT return on foreigners' purchases

Sun, 31 Oct 2021 - 01:33 GMT

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.

Egypt's Cabinet approves in principle VAT incentive scheme

Wed, 26 Aug 2020 - 02:43 GMT

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.

Economic Ministerial Committee approves amendments of VAT law

Wed, 24 Jun 2020 - 02:50 GMT

Minister of Finance Minister Mohamed Ma’it presented the proposed amendments of some provisions of the VAT law to the Ministerial Economic Committee.

‘Fugitive contractor’ referred to criminal court for VAT evasion

Sat, 30 Nov 2019 - 01:28 GMT

That is two weeks after he was sentenced to five years in prison by Tax Evasion Misdemeanor Court.

Egypt to collect VAT from Uber

Mon, 18 Feb 2019 - 01:46 GMT

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

Wed, 10 Oct 2018 - 12:50 GMT

Ireland boosts budget spending as Brexit looms.

Egypt is a haven market for traders: Bloomberg

Fri, 17 Aug 2018 - 09:50 GMT

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.

Ministry of Finance sets new prices of cigarettes

Mon, 16 Jul 2018 - 12:51 GMT

The ministry’s decree comes in light of the implementation of the comprehensive social health insurance system.

Egypt, Japan sign a grant agreement worth LE 15.5M

Sun, 08 Jul 2018 - 01:15 GMT

Egypt and Japan signed Sunday a grant agreement to support the establishment of an electronic system for calculating value added tax (VAT).

Tax revenues reach LE 248B in FY 2017/18

Wed, 14 Feb 2018 - 11:27 GMT

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.

IMF sees confidence returning in Egypt’s economy

Tue, 23 Jan 2018 - 02:15 GMT

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 orders new allowances to offset rising cost of living

Sat, 06 Jan 2018 - 11:02 GMT

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 office targets Chinese online retailers: Handelsblatt

Thu, 04 Jan 2018 - 01:31 GMT

German tax investigators seized goods and accounts of 100 Chinese online retailers selling products via in Germany and failing to pay sales taxes.

Saudi, UAE introduce VAT in first for Gulf

Mon, 01 Jan 2018 - 05:42 GMT

Saudi Arabia and the United Arab Emirates introduced value-added tax from Monday.

Making Ends Meet

Fri, 24 Nov 2017 - 07:00 GMT

One year after the pound float, the middle class is dealing with soaring prices by juggling several jobs and cutting corners.

Eastern Company issues new cigarette prices

Thu, 23 Nov 2017 - 01:56 GMT

The prices of cigarettes will increase by LE 2-3 per pack according to the new amendments.