- Egypt updated its VAT law to shift from special table taxes toward a unified digital VAT system, aiming to support key sectors and broaden the tax base.
- Construction now faces the standard 14% VAT instead of 5%, but businesses can fully deduct input VAT.
- Medical devices were cut from 14% to 5%, with kidney dialysis machines and filters fully exempted on inputs.
- VAT payment on industrial machinery and equipment is deferred from 2 years to 4 years, and transit-goods services between Egyptian ports are VAT-exempt.
- Other changes include VAT exemptions for banking/financial services, removing natural gas from exemptions, moving some consumer goods to 14% VAT, and speeding up VAT refunds.
Source: taxathand.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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