- Egypt’s Cabinet approved a draft law ending the VAT exemption on natural gas and replacing it with a schedule tax of EGP 20 per 1,000 cubic feet.
- The move is part of a broader fiscal plan to raise tax revenues to EGP 3.5 trillion in FY 2026/2027 and reduce a financing gap of about EGP 2.7 trillion.
- The government says it aims to boost public treasury resources and reassess long-standing special tax treatments, exemptions, and incentives.
- The draft also extends VAT payment suspension on machinery, equipment, and medical devices to four years to support local manufacturing and ease capital pressure on investors.
Source: zawya.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.
Latest Posts in "Egypt"
- Egypt Tightens and Streamlines VAT Refund Rules with New Electronic Verification and Anti-Fraud Measures
- Egypt Launches Unified VAT Refund System, Cuts Processing Time, Prioritizes White List Companies
- Egyptian Tax Authority Launches Fourth Edition of Unified VAT Refund Procedures for Faster Processing
- Egypt Strengthens VAT Refund Framework Through Digitalisation and Accelerated Processing
- Egypt Launches App to Verify VAT and Cigarette Tax Certificates via Secure QR Code
