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Egypt VAT update

  • VAT
  • 01 February 2016 | Richard Asquith

Egypt VAT update

Egypt is expected to shortly issue proposed details of its new Value Added Tax regime to replace the existing 10% Sales Tax. The new VAT system is seen as key to helping the country develop a manufacturing sector to compete with other regional emerging economies such as India and Turkey.

Potential highlights of the new indirect tax include:

  • Implementation on 1 October 2016
  • The tax base will be extended to most goods and services
  • There will be the right for VAT registered businesses to relaim input VAT suffered domestically and on imports
  • VAT rate of 10% or more

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.