- Egypt introduces VAT amendments to broaden the tax base and support human development investment.
- Essential goods, healthcare, and education remain exempt from VAT.
- The general VAT rate remains at 14%.
- Key sectors affected include construction, commercial property, crude oil, tobacco, and alcohol.
- Construction services will now have a 14% VAT rate instead of 5%.
- Businesses can deduct taxes on input materials and services.
- Shops in commercial areas will be taxed at 1% of sale or rental value.
- Crude oil will have a 10% schedule tax, not affecting local fuel prices.
- Cigarette taxes increased by 50 piasters.
- Alcoholic beverages will be taxed based on alcohol content.
Source: waya.media
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
