- The new tax facilitation package introduces significant legislative amendments to support economic activity and simplify the tax system.
- Medical devices now have a reduced VAT rate of 5%, and kidney dialysis equipment/components are fully exempt from VAT.
- The suspension period for VAT payment on machinery, equipment, and medical devices used in industrial production can be extended up to four years.
- Services on goods in transit are exempt from VAT if supervised by the Customs Authority, to boost transit trade.
- Soap and industrial detergents for household use are now taxed at the standard 14% VAT rate, allowing deduction of related production inputs.
Source: dailynewsegypt.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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