Egypt approves Law adopting a number of financial rules amid COVID-19 pandemic
On 7 May 2020, the Egyptian President Abdel Fattah El-Sisi has approved Law 24 of 2020 regarding some financial rules in response to COVID-19 pandemic, along with other decisions that include important facilities regarding the real estate tax,
See MoreEgypt extends deadline submitting the electronic VAT return amid COVID-19
On 29 April 2020, the Egyptian Tax Authority has announced that the date for submitting the electronic value-added tax (VAT) return for February 2020 has been extended until 10 May 2020 in response to COVID-19
See MoreEgypt: Tax measures in response to COVID-19 pandemic
Recently, the Egyptian Government has announced several tax measures to mitigate the financial effect in response to the COVID-19 pandemic. The main tax measures are as following: Capital Gains: the extension of the suspension from the taxation
See MoreEgypt extends tax return filing deadline for individuals amid COVID-19 pandemic
On 23 March 2020, the Egyptian Tax Authority has issued a press release extending tax return filing deadline for individual amid COVID-19 pandemic. Tax Authority extends the period of submitting tax returns from 31 March 2020 to April 16 for
See MoreEgypt issues Law on renewing tax dispute settlement
On 3 March 2020, Egypt has issued Law 16 on tax disputes resolution in the official gazette. The Law has amended the previous Law 79 of 2016 and extended the provision of tax dispute settlement until 30 June 2020. The Law added a new
See MoreCyprus and Egypt sign new income tax treaty
On 8 October 2019, Cyprus and Egypt signed an updated Agreement for the Elimination of Double Taxation with Respect to Taxes on Income and the Prevention of Fiscal Evasion and Avoidance, incorporating the OECD model convention. The new text will
See MoreEgypt: MOF issues draft budget for 2019-2020
On 21 September 2019, Egypt’s Ministry of Finance (MOF) has issued draft budget for 2019-2020 which is scheduled to be discussed during the next parliamentary session. The draft budget includes following tax incentives: The draft budget
See MoreDTA between Egypt and Uzbekistan enters into force
On 25 March 2019, the Double Taxation Agreement (DTA) between Egypt and Uzbekistan was entered into force. The DTA applies from 1 January 2020. The agreement contains Dividends rate 5% for at least 25% capital holding; otherwise 10%, Interest
See MoreEgypt amends interest rate for late payment of tax
On 4 August 2019, the Ministry of Finance issued Decision No 484 of 2019 in the Official Journal. The decision entered into force on 5 August 2019. The decision sets interest rates on unpaid taxes amending the Implementing Regulation to the Income
See MoreEgypt publishes a draft of Consolidated Tax Procedures Act
On 17 February 2019, the Ministry of Finance of Egypt has published a draft consolidated tax procedures Act for public discussion. The Act aims to facilitate the procedures related to the collection of various taxes to prevent multiple procedures
See MoreEgypt: Ministry of Finance publishes new decree 547 outlining new updated TP guidelines
On 21 October 2018, Egyptian Ministry of Finance has issued new decree 547 providing the authority for new transfer pricing guidelines to be published. The new guidelines introduced three-tiered level of transfer pricing reports for transparency to
See MoreEgypt reduces late payment interest, penalties and additional taxes if taxes are settled
On 15 August 2018, the Egyptian Government has issued new Law no. 174 of 2018 (the Law) that reduces late payment interest and penalties by a certain percentage based on the payment day of the taxes due. The law introduces 90% reduction on interest
See MoreEgypt: Government publishes amends income tax law regarding transfer pricing rules
Government has published Ministerial Decree No. 221 of 2018 amending certain provisions of the Income Tax Law Executive Regulations under Ministerial Decree No. 991 of 2005 relating to transfer pricing rules on 22nd May 2018. The definition of
See MoreOECD and Egypt launch programme on implementation of BEPS standards
On 7 March 2018 the OECD and Egypt’s Ministry of Finance launched a programme entitled Enhancing domestic resource mobilisation in Egypt through a better tax and exchange of information system. The programme involves funding from the EU to support
See MoreBahrain: Cabinet approves tax treaty with Egypt
The Bahrain Cabinet has approved the law for the ratification of the new income tax treaty on 22th January 2018, with Egypt for the avoidance of double taxation. The treaty was signed 26 April 2016, will enter into force after the ratification
See MoreSaudi Arabia: DTA with Egypt approved
On 1 May 2017, the cabinet of Saudi Arabian approved the Double Taxation Agreement (DTA) with Egypt for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on
See MoreMFN clause of the protocol to the Egypt – France Income and Capital Tax Treaty (1980) (as amended through 1999) activated
The Tax Administration of France updated the guidance on 4 November 2016 about activation of the most favoured nation (MFN) clauses concluded by France on certain tax treaties. As a result, the MFN clause in article II of the protocol to the Egypt -
See MoreBahrain- Egypt: Egyptian parliament approves treaty between Bahrain and Egypt
The Egyptian parliament permitted the Bahrain - Egypt Income Tax Treaty of 2016 on 15 November 2016 and the new treaty will replace the Bahrain - Egypt Income Tax Treaty of
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