ETA Denies VAT Dispute with Oil Companies, Confirms Agreement on Crude Oil Taxation

• ETA denies media reports of a dispute with oil companies over VAT on crude oil
• The law is clear and all parties agree
• Executive regulations will be issued soon
• EGPC is the sole buyer of crude oil in Egypt and pays the 10 percent VAT
• The VAT applies only to crude oil, not petroleum products
• No price increase for petroleum products in the local market
• ETA urges media to verify information with official sources for accuracy

Source: arabfinance.com

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.

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