Latest in Tag: tax Highlight
Latest in Tag: tax
The guide includes rules and procedures to make use of these benefits, recognising the importance of developing tax and customs awareness among the business community in a way that contributes to attracting more investments, expanding exports, and then maximising production capabilities.
As of 1 April, only electronic invoices will be considered in deducting or refunding the VAT, proving costs or expenses when submitting returns
Youssef started off by affirming that The Ministry of Finance and the Egyptian Tax Authority are keen on facilitating tax refund procedures for non-resident tourists upon their departure.
He pointed out that the first phase includes 153 companies, according to Resolution No. 289 of 2022, starting from last July.
The committee will specialise in disputes related to the taxes stipulated in the income tax law, the stamp tax law, the financial resources development fee law, and the value-added tax law.
Original tax must be paid before end of August to cancel 65% of delay fees
The system has ended 58,871 tax disputes from September 2016 until the end of June 2022 with a value exceeding EGP 41.149bn
More tax revenues derived from the digital economy could help governments of African countries save their crumbling education and healthcare systems.
65% of delay fees will be overridden in case of early payment
This is in order to benefit from the facilities provided in the draft law to override delay fees and the additional tax dues that the Egyptian Tax Authority handles, including income taxes, value-added taxes, stamp taxes, and the state’s financial resources development fee.
The e-receipt is a natural extension of the e-invoice system to cover all types of transactions
Egyptian tax laws does not distinguish between traditional, e-commerce: Abdel Kader
Continuous growth of bank’s business is supported by ambitious expansion plans: Chairperson Al-Khouly
Digitizing tax procedures contributes to providing distinguished services
The new law provides business owners with a simplified tax system; where the volume of sales or business is determined through a simplified tax return prepared by the entrepreneur once a year and does not require books, documents or purchase invoices.
The amendments include the suspension of tax on imported machinery and equipment for industrial production for one year. In addition, medicine, active substances in its production, serums, vaccines, and blood and its derivatives, will be VAT free.
Bank continues to successfully implement its expansion plans, develop digital services, says El-Sewerky
‘We look forward to benefiting from Egyptian experience in developing tax system,’ says Sudan Taxation Chamber chief
Landmark deal to reallocate $125bn of profits worldwide: OECD
Abdul Qader said, in a statement on Wednesday, that the Large Taxpayer Center is holding meetings with senior accounting and auditing offices to exchange views on the electronic system of ETA and the difficulties they face.
Amendments aim to facilitate tax collection procedures
Tax Authority calls on content creators whose revenues reach EGP 500k per year since online debut to register for VAT
Defaulting taxpayers pay 1-10% of due taxes, amounting to EGP 159.7m
New MSMEs law includes many incentives to integrate informal sector with formal economy
Forum discusses Egypt’s new Advance Cargo Information, e-invoicing systems
ETA’s YouTube channel explains how to file tax returns electronically
Addressing business owners, Egypt’s Finance Minister said, “You will not go to the tax authority, and a tax officer will not visit you.”
Reda Abdel Kader, Chairperson of the Egyptian Tax Authority (ETA), has formed a work team to provide support to financiers wishing to join the electronic invoice (e-invoice) system.
Linking all Egyptian ports to electronic platform to simplify procedures, reduce cost of goods, and reduce customs clearance time to less than three days, says Mohamed Maait
Parliament proposes amending tax exemption on returns from government debt in which NOSI invests to 50%-65%