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Egypt Sales Tax changes

  • VAT
  • 12 September 2015 | Richard Asquith

Egypt Sales Tax changes

Egypt has issued a number of improvements to its Sales Tax regime. This is ahead of plans to introduce a VAT implementation Bill in the next month.

The Sales Tax changes include:

  • New allowances for the deduction of input Sales Tax incurred along the production chain
  • Launch of a ‘Sales Tax Lottery’, whereby a weekly cash-prize will be given based on full compliant invoices prepared by tax payers
  • Withdrawal of a number of essential products from the Sales Tax levy
  • The introduction of a withholding requirement on certain Sales Tax payments to reduce tax fraud and under disclosure
  • Increase in the tax registration threshold to Egyptian Pound 500,000 per annum
  • Simplification of the number of Sales Tax rates

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.