Egypt to announce second stimulus package
The Egyptian finance minister has said the government will announce within days details of its second stimulus package to boost Egypt’s rapid growth and to reassure
See MoreEgypt aims to unveil new fiscal incentive package
The Egyptian Finance Minister has announced that the Government aims to unveil details of a new fiscal stimulus package shortly. The Government adopted its first stimulus package in the second half of 2013. The Finance Minister indicated that the
See MoreEgypt: Reconsidering a VAT system
Egypt is considering the introduction of a value added tax (VAT) system to replace the current sales tax. It is understood that this has been identified as a priority; the likely VAT rate will be around 10% with higher rates for such items as
See MoreEgypt: Introduction of VAT law
It has been reported that Egypt will introduce Value Added Tax to replace the existing General Sales Tax by the end of 2014. The new VAT will be a broad based tax, covering a much wider range of goods and services; the new provisions will also
See MoreEgypt: Forbidden Progressive Tax Plans
Recently, the Egyptian committee has forbidden plans to include an article in the country’s basic law providing that progressive taxation should serve as a basis for tax policy. From the 2011 uprising, Egypt has been planning the idea of
See MoreEgypt – VAT implementation discussions
The Finance Ministry of Egypt has re-started discussions on the potential implementation of a full Value Added Tax (VAT) regime to replace the existing sales tax system. The current sales tax system of Egypt is complex and can lead to compound
See MoreEgypt – Increase of the Personal Income Tax Threshold
The Finance Ministry of Egypt announced on 22 October 2013, that the annual personal tax exemption limit will be increased from 4,000 Egyptian pounds ($580) to 7,000 Egyptian pounds ($1,015) which aims to motivate the national economy and stunned
See MoreEgypt: New Tax Law
A new tax law was signed by the Egyptian president on 21 May 2013. The new tax law cuts the amount of tax paid by those on lower incomes and this is intended to improve their living conditions. According to the new law anyone who earns EGP 5,000 or
See MoreEgypt: Customs Tariffs on Luxury Goods
Egypt has issued a presidential decree raising customs tariffs on imports of luxury goods. Under the decree a 40% tariff will be applied to imports of goods including sunglasses, watches, video games, shrimps, fireworks and boats. Two new customs
See MoreIncome Tax Treaty between Egypt and Georgia
By Decision 315, Egypt ratified the Income and Capital Tax Treaty (2010) with Georgia, on 6 November 2012. For the treaty to enter into force, each of the Contracting States will have to notify the other in written form through diplomatic channels
See MoreDTA between Egypt and Ethiopia sent to Egypt’s parliament for final approval
On May 21, 2012, the pending double taxation agreement (DTA) between Egypt and Ethiopia was sent to Egypt's parliament for final
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