Egypt raises materiality threshold for master file and local file for 2024

February 27, 2024

On 15 February 2024, Egypt published the Ministerial Decree No. 52 of 2024 in the Official Gazette, providing updated transfer pricing documentation requirements for Egyptian taxpayers. This decree came into effect on 22 February 2024. In this

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Egypt preparing draft for new income tax law

February 13, 2024

Egypt’s Minister of Finance for Tax Policy and Reforms has announced plans to draft a new iteration of the Income Tax Law. The details of the new law has been fully published, but the main proposals of the new law include: A focus on

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Egypt: Taxpayers must register their branches for VAT 

December 30, 2023

On 27 December, the Egyptian Tax Authority announced in a release that all taxpayers who are required to register for VAT must also ensure that all of their branches are registered for VAT. Additionally, VAT registration certificates must be

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Egypt releases explanatory instructions on transfer pricing reporting obligations

October 25, 2023

On 19 September 2023, the Egyptian Tax Authority issued Explanatory Instruction No. 78 introducing mandatory transfer pricing reporting obligations for related party transactions. Accordingly, the Tax Authority has set deadlines for submitting

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Egypt releases amendment to some provisions of the investment law

August 09, 2023

On 25 July 2023, Egypt published Law No 160 of 2023 in the official gazette amending the Investment Law No. 72 of 2017. These amendments primarily focused on enhancing incentives for foreign investors, encouraging investment distribution across the

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Egypt publishes income tax amendment law

July 26, 2023

On 15 June 2023, the Egyptian Tax Authority published Law No. 30 of 2023 in the Official Gazette amending some provisions of the Income Tax Law No. 91 of 2005. The Law entered into force on 16 June 2023. The key amendments to the Income Tax Law are

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Egypt reintroduces the tax dispute resolution

August 05, 2022

On 28 July 2022, the Egyptian government published Law No. 153 of 2022 in the Official Gazette. The Law has amended the previous Law 79 of 2016 and extended the provision of tax dispute settlement until 31 December 2022. The tax dispute

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OECD: New Transfer Pricing Country Profiles Published

June 09, 2022

On 9 June 2022 the OECD released new transfer pricing country profiles for Egypt, Liberia, Saudi Arabia and Sri Lanka. The OECD transfer pricing profiles cover the OECD member countries and a number of member countries of the Inclusive Framework

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Egypt explains rules and instructions for the tax treatment of capital gains

September 15, 2021

On 6 September 2021, the Egyptian Ministry of Finance has issued Decree No. 428 of 2021 clarifying rules and instructions for the tax treatment of capital gains resulting from the disposal of securities, shares, and treasury bills, as well as the

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Egypt: MOF publishes form and guidelines on the tax treatment of capital gains

December 26, 2020

On 16 December 2020, the Egyptian Ministry of Finance (MOF) published a decree (No. 610 of 2020) setting out the tax treatment of capital gains from the sale or disposal of unlisted shares by non-residents. The decree also published the

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Egypt makes some changes to the Unified Tax Procedure Law

December 23, 2020

On 3 December 2020, Egypt has published Law No. 211 in the official gazette. The Law makes some important changes to the recently published Unified Tax Procedure Law (Law no. 206 of 2020). The new Law mainly changes transfer pricing non-compliance

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Egypt: President approves unified tax procedures law

October 31, 2020

On 19 October 2020, Egyptian President Abdel Fattah El Sisi has approved a unified tax procedures law (Law no. 206 of 2020). The Law was published in the Official Gazette. The law will be applied to tax on income, added value tax, stamp duty, fees

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Egypt deposits ratification instrument for MLI

October 31, 2020

On 30 September 2020, Egypt deposited its ratification instrument for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). The MLI will enter into force for Egypt on 1 January

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Egypt issues Law on taxation of capital gains and dividends distribution

October 13, 2020

On 30 September 2020, the Egyptian Government has published Law No. 199 in the official gazette. The Law contains amendments to the income tax law around capital gains and dividends distribution and certain articles of the stamp tax law with effect

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Egypt cancels exemptions for interest, capital gains on treasury bills, bonds

October 09, 2020

On 5 September 2020, the Egyptian Ministry of Finance has issued Law No. 182 of 2020 abolishing the exemption on the proceeds of treasury bills and bonds or capital gains resulting from dealing in these bills and bonds from tax on income. The

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Egypt: Parliament approves BEPS multilateral instrument (MLI)

August 31, 2020

On 18 August 2020, the Egyptian House of Representatives (Parliament of Egypt) has approved several presidential decrees on international agreements. Among the agreements, the Parliament has approved the Multilateral Convention to Implement Tax

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Egypt issues law on penalty waiver and tax dispute settlement process

August 28, 2020

On 16 August 2020, the Government of Egypt has issued Law No. 173 of 2020 by waiving the consideration for the delay, additional tax, interest, and similar non-criminal financial sanctions, and to renew the application of Law No. 79 of 2016

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Egypt: Cabinet approves the ratification of BEPS MLI

July 27, 2020

On 15 July 2020, the Egyptian Cabinet has approved a draft law for the ratification of the multilateral convention to implement tax treaty related measures to prevent BEPS (MLI). Egypt now has to deposit its instrument of ratification in order to

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