- The Egyptian Ministry of Finance proposed VAT amendments for specific goods and services.
- The current general VAT rate and exemptions for basic goods, food, health, and education services will be maintained.
- Contractors will be subject to the general VAT rate instead of a 5 percent schedule tax and can deduct input VAT on goods and services.
- Shops and administrative units in non-commercial locations remain exempt, while a 1 percent VAT is imposed on administrative units in commercial spaces.
- The price brackets for cigarette products will be expanded, and the flat tax will increase by 50 Egyptian piasters.
- A flat, progressive schedule tax will be calculated based on the alcohol content of beverages.
Source: news.bloombergtax.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.
