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Egypt Parliament VAT rate challenge


Egypt Parliament VAT rate challenge

A key Egyptian Parliament committee has approved the government's draft VAT implementation plan for March 2017.  However, it has recommended that the proposed standard VAT rate of 14% be reduced to only 12%. The current sales tax rate is 10%.

The parliament will now discuss the potential rate in open debate and a vote by the whole Parliament.

The Bill to introduce the new indirect tax, aimed at reducing bureaucracy and compounding tax, should help boost local manufacturing and establish Egypt as a regional production hub.

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.