CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Egypt Confirms VAT Hike This Year

Egypt Confirms VAT Hike This Year

by Lorys Charalambous, Tax-News.com, Cyprus

18 January 2017


The Government of Egypt has confirmed a plan to increase the rate of value-added tax later this year under a series of revenue-raising measures.

Finance Minister Amr El-Garhy announced earlier this week that the VAT rate would increase by one percent to 14 percent in July 2017 as the Government seeks additional revenue to cover a large budget deficit. Previously the Government had indicated the rate would rise from October 1, 2017.

The VAT replaced the 10 percent goods and services tax on September 8, 2016, under a program with the International Monetary Fund that included a lending facility worth USD12bn.

The VAT increase forms part of a plan to boost tax revenues and lift Egypt's tax-to-gross domestic product level to 15 percent. Other measures include a planned overhaul of the customs system and income tax increases.

TAGS: Finance | VAT rates | tax | value added tax (VAT) | law | budget | Egypt | services | Other

To see today's news, click here.

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »