Latest in Tag: ministry of finance Highlight
Latest in Tag: ministry of finance
Egypt reaps EGP 13.5bn in custom duties
A report reveals that from July 2012 to mid-May this year Egypt achieved 65% of customs revenue goal
Finance Ministry to reassess taxes on hotels and resorts
Egypt’s Finance Ministry rules that real estate taxes for hotels will now be determined by their “market replacement value”
New finance minister: budget and tax reforms are priority
Fayyad Abdel Moneim is a former economics professor at Al-Azhar University
Budget deficit reaches EGP 175.9bn over last nine months
Finance Ministry: Deficit now at 10.1% of GDP
Key Egyptian negotiator with IMF resigned on Sunday, MOF spokesperson denies trouble with FJP as reason for resignation
Deputy Finance Minister’s resignation adds risk to IMF loan
Government borrows another EGP 13bn
New bidding round for T-bills to counter declining yields
Lagarde: IMF negotiations ‘back to the drawing board’
Managing Director of the IMF says ‘more work to be done’ to secure loan
Tax Authority: Tax revenues jumped 8% in 9M 2012-2013
Former Chairman of Tax Authority calls increases ‘an outcome of economic crisis not economic activity’
Budget details released
Subsidies, grants and social welfare benefits set to be cut during coming fiscal year
Seventeen PPP projects to be financed using sukuk: Panel
Panelists at the 2nd Annual PPP Investment Summit called the new sukuk law ‘quantum leap’ towards introducing Sharia-compliant products to the Egyptian market
Ministry of Finance sells EGP 124bn worth of T-bills, bonds
Sales came during Q2 of FY 2012/2013
Egypt Post to offer electronic tax payment services
The service will be available to individuals, companies and institutions, with 360 payment centres already up and running
‘We did our homework’: Minister of Finance
The economic take-off program will be applied ‘whether the IMF comes or not’, says the ministry
New Budget to be presented to Shura Council in March
The Ministry of Finance has consulted with a number of government agencies in order to discuss the budget
Rebel Economy Wrap
Egypt runs out of cash for diesel subsidies
Finance Minister: New initiative launched to establish tax debt relief committees
Over 30 banks and 1,850 branches are covered under a new electronics payments system for taxes, pensions and customs
MOF reconsiders taxes
Ministry of Finance considers removing food tax increases while doubling tobacco excise
Al-Oqda to liquidate banking sector’s development and modernisation fund
The total number of money paid in salaries for public bank employees rose from EGP 1.5bn in 2003 to EGP 4.7bn in 2010
Centamin to resume operations shortly
The company’s gold shipment to the Netherlands has cleared customs
Finance minister rejects free maintenance of customs equipment
El-Saeed, rejected an offer made by Palamar-Misr to provide the customs authority with free maintenance on all inoperative x-ray scanning equipment
Customs bottlenecked due to outdated scanning equipment
Minister of Finance Momtaz Al-Saeed, has ordered the formation of two committees, legal and technical, to review contracts with an American company providing X-ray scanning equipment to the Egyptian Custom Authority. He has also requested an expedited submission of reports assessing the functionality, or lack thereof, of such devices. In 1998, the Ministry of Finance …
Ministry of Finance tightens fiscal grip
The Ministry of Finance will introduce a new computerised financial surveillance system to rationalise government spending. “The Ministry of Finance has been working on a comprehensive project to computerise the financial operations related to the general state budget,” Minister of Finance Momtaz El-Saeed said on Wednesday. The Ministry of Finance called on government to address …
Al-Saeed: MENA Transition Fund launched with capital of $250m
Minister of Finance Momtaz Al-Saeed, announced the establishment of a MENA Transition Fund with an initial capital of $250 million, in a press release.
Illicit Gains Authority to arrest Mubarak-era parliament speaker
Ahmad Fathi Sorour is wanted in connection with an investigation on his personal wealth.
Real estate tax to be implemented
The Real Estate Tax Authority (RETA) is about to instate the article 196 real estate tax law, four years after it was first issued, according to head of RETA, Tarek Farag. Farag made the announcement during a seminar to the Association of Taxes Experts. “People who are supposed to pay real estate taxes can do …
Ministry of Finance to issue more FRNs
The Ministry of Finance has reported it will issue an additional EGP one billion in Floating Rate Notes (FRNs) by the beginning of October. FRNs are bonds with a variable interest rate that changes every six months and is tied to a certain money-market index. According to experts, FRNs provide protection to investors against drops …
Minister of Finance: New budget on 1 July
The new budget proposal , which is to be implemented in 1 July after SCAF approval, includes a number of reforms designed to re-start Egypt’s growth.
Ministry of Finance borrows dollars for support
Banks had offered liquidity in dollars to the Ministry of Finance
Egypt to offer LE 2.5 bln in reopened bonds
By Mohamed Samir / Reuters CAIRO: Egypt’s Ministry of Finance will offer LE 2.5 billion ($414.1 million) in reopened bonds at an auction on April 23, the central bank said on Tuesday. It will offer LE 1.5 billion in reopened five-year bonds maturing on April 10, 2017 with a coupon of 16.55 percent, and LE …