Latest in Highlight
Latest in
Foreign investors confident about outlook of Egypt economy: Fitch senior director
The rating agency expects Egypt’s economy to grow 4.5% in 2018
Who bears the brunt of the economic reforms?
President Al-Sisi pledged to protect vulnerable social classes against the impacts of the economic reform
No increase in prices of cigarettes and oils after increasing VAT to 14%: El Monayer
Increasing VAT by 1% will have limited impact, 57 categories of goods and services to remain exempted
Internet companies ask for extension to their exemption from VAT
Application of VAT raises prices of services: sources
Finance and health ministries agree to reduce VAT on blood bags to 1.3%
The political leadership orders easing the burden on the low-income patients: Al-Garhi
The implications of VAT on the automotive sector
In a seminar for Daily News Egypt, leaders in the automotive sector and tax authority were questioned about what the implications of the value-added tax are on the industry
Parliamentary Planning and Budget Committee suggests 10% tax rate for SMEs
I expect the government to introduce a tax law for discussion in the current legislative term, says MP Yasser Omar
Economic legislation chaos in Egypt main reason behind decline in investments: Taher El-Khouly
Monetary policy in Egypt is vague and has hindered the movement of investors
Stability of monetary policy, simplified government measures attract investment: Infinix
Infinix Corporation, specialised in manufacturing smartphones, is working to develop after-sales services in the Egyptian market and plans to increase the number of its major maintenance centres. Business development manager at Infinix, Ahmed Wagih, told Daily News Egypt in an interview that the economic conditions in Egypt and the scarcity of US dollars have impacted …
Expected VAT proceedings set at EGP 20-22bn by end of this fiscal year: ETA Head
Head of the Egyptian Tax Authority, Abdel Moniem Matar, said that proceedings from the application of the value-added tax (VAT) are expected to reach EGP 20-22bn by the end of the fiscal year (FY) 2016/2017. During the second financial leasing conference on Tuesday, Matar said that VAT bylaws are expected to come out by the …
Egypt struggles to implement IMF’s conditions before board meeting
The foreign exchange reserves registered $19.59bn in September, an increase of 18.2% compared to August, says the CBE
Lawyers Syndicate demands exclusion from VAT Law
The law, which will impose an additional tax on essential services, was criticised for being unconstitutional
Lawyers Syndicate protests against VAT
The Lawyers Syndicate is slated to discuss the issue in an emergency meeting
Advertising Area
In Cartoon: No one is safe from Egypt’s new tax policy
Train of tax reform stops in the middle of the trip
Intense focus on the issues associated with the programme presented to the IMF at the expense of the rest of aspects
Philip Morris Misr announces official list prices post-VAT
The support for the decision comes in the hope that the VAT law will end production shortfalls and price fluctuations
NTRA, Finance Ministry determine application mechanisms of VAT on top-ups
The agreement includes not changing prices after the tax is increased to 14% next year
IMF agreement to pave way for economic reform: CI Capital deputy CEO
Another devaluation of the Egyptian pound will be necessary to reflect its true value post-IMF deal
Rasmala Group’s AUM stood at $1.1bn in December 2015: group chief executive
Rasmala to expand real estate business in the Middle East and other international markets
Advertising Area
Political parties, NGOs reject parliament’s approval of VAT
The value-added tax was approved by parliament in late August, and was set at a rate of 13% for the current fiscal year
In Cartoon: The value-added tax threatens to cut off the hands of Egypt’s citizens
Approval of the VAT is a historic achievement: IMF
Change in national tax code will affect all portions of society, unless explicitly exempted
MPs refrain from voting on VAT bill, likely to be referred to Disciplinary Committee
MPs demanded that the electronic voting system be used to reveal each member’s stance on the bill
VAT, depreciation of Egyptian pound could increase real estate prices by 15%-20%
Real Estate Investment Division demands reducing VAT rate on construction contracts from 5% to just 4%
Government exempts more goods from VAT to grasp parliament approval
International education, medicine, and special needs cars are added to the list; discussions to continue next week, say sources
Parliament’s Budget Committee leaves VAT rate to the public session
Parliament’s Budget and Planning Committee has decided to leave setting a value-added tax (VAT) rate to the public session for discussion and vote. Yasser Omar, a member of the parliament’s Budget and Planning Committee, said that the committee’s report will be put up for discussion in a public session without a recommended rate. The original …
Government committed to 14% VAT, parliament will understand: Prime Minister
Egypt’s rich are able to provide their needs easily and have to take on more, says Sherif Ismail
Inflation to increase to 15-16% by end of September after electricity price rise
Decrease in poultry prices limited the increase in the inflation rate in July, says CAPMAS
Parliament agrees with Finance Minister to pass VAT in exchange for imposing another tax
Elswedy is negotiating with the Industry Ministry to expedite allocating lands for free as well as their usufruct right
Inflation rate likely to rise next year: experts
Egypt’s core inflation rate climbed to its highest level in seven years in June, underscoring the challenges confronting the government as it grapples with a foreign-currency crunch. Annual core inflation, which excludes volatile items such as food, reached 12.3% in June, up from 12.23% in May and the highest since February 2009, according to the …
