Egypt 13% VAT 2016
- Aug 28, 2016 | Richard Asquith
Egypt will introduce Value Added Tax from October 2016 at 13%.
The new rate was voted on in Parliament today. The standard rate will rise to 14% on 1 October 2017 as part of a compromise with the government.
VAT to boost economy:
- Existing 10% Sales Tax leads to compounding taxation on manufacturing and deters outsourcing
- VAT shifts the tax burden from job-creating companies to consumer spending.
- Egypt needs to match the VAT regimes of Turkey, India (GST in 2017) and China to ensure it becomes a global manufacturer
- VAT will broaden the tax base to more services
- The International Monetary Fund made the reform conditional on further loans to Egypt
The Egyptian VAT rate rises from 13% to 14% on 1 July 2017. Egypt introduced VAT in 2016 at 13%. It replaced a 10% Sales...
Egypt has announced that it will bring forward to 1 July 2017 a 1% VAT rise to 14%. The original plan had been to raise...
Egypt will introduce Value Added Tax from October 2016 at 13%. The new rate was voted on in Parliament today. The standard rate will rise to...