Finance Ministry: tax changes in January 2013

Advice, information and discussion about Egypt in general.

Moderators: DJKeefy, 4u Network

User avatar
Site Administrator
Site Administrator
Posts: 10871
Joined: Thu Jan 13, 2005 4:08 pm
Location: UK
Has thanked: 883 times
Been thanked: 1836 times

Finance Ministry: tax changes in January 2013

Post by DJKeefy »

Finance Minister Momtaz al-Saeed said changes to taxation, including the increased taxes on some goods, will be applied in January, following the end of a period of community dialogue.

Saeed told Al-Masry Al-Youm that these changes will not harm the poor and those of middle-income. He said that these changes will held plug Egypt’s funding gap worth US$ 14.5 billion because they will lead to reduced tax evasion, simplified procedures, improved business and investment climate.

Within the tax and accounting community, uncertainty remained after these tax changes had been announced and put on hold on the same evening earlier this month.

The amendments include income, sales, duty and real estate tax. The Income Tax Department said that it remained concerned that the recent decisions were neither being applied or clearly cancelled.

A senior official at the department said that tax increases apply to only 30 commodities, including steel and cement, and stressed that these decisions are sensitive and should have been applied immediately following their announcement and publishing in the Official Gazette.

The official, who requested anonymity, added that traders have made a profit and called for firm and clear decisions regarding taxes. He said that the fact that the decision to postpone the application of these taxes was made verbally by the president further contributed to misunderstanding between the tax department and the market.

Source: ... nuary-2013


  • Similar Topics
    Last post
  • Egypt's budget deficit hits LE91.5 billion: Finance ministry
    by DJKeefy » Mon Feb 04, 2013 11:22 am » in Know Egypt
    1 Replies
    Last post by LovelyLadyLux
    Mon Feb 04, 2013 4:43 pm
  • Exchange Rate (13th January 2013)
    by DJKeefy » Sun Jan 13, 2013 3:46 am » in Know Egypt
    8 Replies
    Last post by A-Four
    Sun Jan 13, 2013 9:40 pm
  • UK to finance Egypt trade deals worth up to 5 million GBP
    by DJKeefy » Sun Jul 17, 2016 5:52 pm » in Know Egypt
    2 Replies
    Last post by newcastle
    Sun Jul 17, 2016 8:20 pm
  • 25th January
    by carrie » Wed Jan 25, 2017 7:55 am » in Know Egypt
    8 Replies
    Last post by Dusak
    Thu Jan 26, 2017 9:10 am
  • January Ticket Discounts
    by BENNU » Mon Dec 26, 2016 4:20 pm » in History and Archaeology
    5 Replies
    Last post by BENNU
    Wed Dec 28, 2016 9:41 am