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Egypt VAT update


Egypt VAT update

The Egyptian Parliament is reviewing implementation Bill for the introduction of VAT potentially next year.

The standard VAT rate has yet to be determined, but it is likely to be up to 15%, with a EGP 500,000 registration threshold. The compares to the current 10% General Sales Tax, which has an EGP 150,000 threshold. VAT returns will be required on a monthly basis. Foreign businesses providing taxable supplies in Egypt may be required to VAT register as a non-resident, potentially appointing a fiscal representative.

It is anticipated that education, public services, health and financial services will be exempted from the new consumption tax.

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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.