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Centralised system enables Egyptian Tax Authority to monitor all commercial transactions between companies, says Maait
Amendments will also see improved tax brackets and across the board tax savings for all social segments
According to a ministry statement on Wednesday, the decision comes as part of amendments to some provisions of the executive regulations under the Income Tax Law.
President Al-Sisi’s direction came during a meeting with Prime Minister Mostafa Madbouly and Minister of Finance Mohamed Maait.
The amendments aim to minimise tax liability on factory owners and encourage certain productive sectors and strategic services.
The decision will be presented to the economic ministerial group in its meeting today. The discussion is supposed to include approving incentives to stimulate the Egyptian Exchange (EGX), such as giving companies a tax deduction if they resort to offering in EGX, in order to stimulate the money market.
Project comes in cooperation with IBM, e-finance, SAP, and Ernst and Young
Environment surrounding e-commerce activity developed rapidly within 1 year, says Moharram & Partners Managing Partner
‘We will join the Morgan Stanley index for the emerging market very soon,’ says Moeit
The ministry added in a press statement, on Saturday, that this law aims to improve the growth structure and raise its rates, which will subsequently provide more job opportunities for youth.
Taxes account for 75% of state resources
Non-sovereign bodies taxes reach EGP 517bn, representing 9.9% of GDP
Veon declines GTH offer price to EGP 5.08m after new tax settlement
All bank branches will provide e-tax collection services during official working hours
The Tax Authority has demanded the addressed financiers to submit electronic tax (e-tax) declarations ahead of time enough before the legal period ends, warning that last-minute submissions will cause major pressures on the system and will lead to its disruption and a possible occurrence of many issues. At the seminar organised by the tax committee …
VAT declarations to be submitted electronically starting from January 2019
Strategy of double Irish with Dutch Sandwich is international tax evasion involving channelling profits first through Irish company, then Dutch company, then to Irish subsidiary in a location – like Bermuda —with lower or no income taxes Tech giant Google shifted $22.7bn through a Dutch shell company to Bermuda in 2017, in a move that …
“It is first step, but we will not settle for crumb,” said Benjamin Cauchy, one of leaders of protests
Today the Egyptian capital market has started to rise again by small rate due to some reports saying that the Federation of Egyptian Banks (FEB) is trying to reach an agreement with the ministry of finance.
Following this decision, the FEB formed a specialised committee to study this decision and its impact on the banks’ profits.
Egypt and the EU signed an agreement on 25 June 2001 in Brussels to establish a free-trade zone for a maximum period of 12 years from the time the agreement goes into gradual effect, while liberalising Egyptian imports from industrial goods of the EU extending to 16 years. This agreement requires reducing European car customs …
Citizens who qualify for real estate tax law, can apply for tax instalments, says Moeit
Alaa Fekry, member of the Board of Directors of the Real Estate Investment Division at the Federation of Egyptian Chambers of Commerce (FEDCOC) said that applying the real estate tax on units exceeding EGP 2m under specific conditions is a good and balanced tool to increase state resources without harming low and middle-income citizens. Fekry …
The Ministry of Finance confirmed that the Egyptian Tax Authority (ETA) has completed its preparations to begin implementation of the decision of the minister of finance obligating the tax community to submit tax returns online. Thus, the ETA has prepared many online facilities and equipment to facilitate the implementation of the decision by the tax …
We are in contact with new finance minister, look forward for discussion in new parliamentary session: Gamea
With the approval of Prime Minister Mustafa Madbouli, , Mohamed Maait Minister of Finance issued a decision to extend the deadline for the collection of real estate tax without penalty delay until 15 October 2018, according to press statement on Thursday. The statement said that this decision is considered to facilitate the taxpayers and to …
Law subjects workers, service establishments to tax, says Rady
Cigarette companies demand expansion of tax segments, but government ignores it
Decrease in budget deficit to reach 9.8% in FY2017/2018 compared to 10.9% in FY 2016/2017
Tax disputes referred to judiciary are about 150,000, including appeals against income, sales taxation, VAT, stamp duties