Latest in Tag: tax Highlight
Latest in Tag: tax
Simplified tax system could be applied to SMEs: Egypt’s Finance Minister
Addressing business owners, Egypt’s Finance Minister said, “You will not go to the tax authority, and a tax officer will not visit you.”
Tax Authority forms team to support financiers in joining e-invoice system
Reda Abdel Kader, Chairperson of the Egyptian Tax Authority (ETA), has formed a work team to provide support to financiers wishing to join the electronic invoice (e-invoice) system.
Egypt’s tax, customs departments to be e-linked by June 2022 end: Finance Minister
Linking all Egyptian ports to electronic platform to simplify procedures, reduce cost of goods, and reduce customs clearance time to less than three days, says Mohamed Maait
Tax exempt on government debt returns for overseas bodies still in place: Maait
Parliament proposes amending tax exemption on returns from government debt in which NOSI invests to 50%-65%
Latest law on tax delinquency penalty relief offers new incentives: Finance Minister
Incentives help accelerate collection of state’s overdue debts, maximise its ability to provide public services during pandemic, says Maait
Electronic tax invoicing on trial starting 30 June
Centralised system enables Egyptian Tax Authority to monitor all commercial transactions between companies, says Maait
Income Tax Law amendments address distortions in tax system: Finance Ministry
Amendments will also see improved tax brackets and across the board tax savings for all social segments
Individuals to submit tax returns electronically from January 2021: Finance Ministry
According to a ministry statement on Wednesday, the decision comes as part of amendments to some provisions of the executive regulations under the Income Tax Law.
Al-Sisi directs for expanded mechanisation of tax system
President Al-Sisi’s direction came during a meeting with Prime Minister Mostafa Madbouly and Minister of Finance Mohamed Maait.
Al-Sisi ratifies law amending real estate tax
The amendments aim to minimise tax liability on factory owners and encourage certain productive sectors and strategic services.
Finance Ministry reduces stamp tax to 0.5 per thousand, postpone capital gains tax
The decision will be presented to the economic ministerial group in its meeting today. The discussion is supposed to include approving incentives to stimulate the Egyptian Exchange (EGX), such as giving companies a tax deduction if they resort to offering in EGX, in order to stimulate the money market.
Egypt launches new tax e-filing system
Project comes in cooperation with IBM, e-finance, SAP, and Ernst and Young
Lack of clarity over tax policies for e-commerce platforms hinder investments
Environment surrounding e-commerce activity developed rapidly within 1 year, says Moharram & Partners Managing Partner
Egypt’s tax policy to remain stable with no future changes: Finance Minister
‘We will join the Morgan Stanley index for the emerging market very soon,’ says Moeit
Finance Ministry offers tax, non-tax incentives in MSMEs draft law
The ministry added in a press statement, on Saturday, that this law aims to improve the growth structure and raise its rates, which will subsequently provide more job opportunities for youth.
Egyptian Tax Authority achieves 102% surplus for first time: Tax Inspection Manager
Taxes account for 75% of state resources
Egypt’s tax revenues up 17% to EGP 660bn in FY 2019: Finance Minister
Non-sovereign bodies taxes reach EGP 517bn, representing 9.9% of GDP
Global Telecom settles $136m tax dispute
Veon declines GTH offer price to EGP 5.08m after new tax settlement
NBE extends work hours to 6:00pm in 64 branches to receive tax dues
All bank branches will provide e-tax collection services during official working hours
E-tax declarations allow government to control market financial transactions, prevent tax evasion: Deloitte
The Tax Authority has demanded the addressed financiers to submit electronic tax (e-tax) declarations ahead of time enough before the legal period ends, warning that last-minute submissions will cause major pressures on the system and will lead to its disruption and a possible occurrence of many issues. At the seminar organised by the tax committee …
New tax procedure draft law to be put for community dialogue soon
VAT declarations to be submitted electronically starting from January 2019
Google routed $23bn in 2017 to tax haven Bermuda, documents reveal
Strategy of double Irish with Dutch Sandwich is international tax evasion involving channelling profits first through Irish company, then Dutch company, then to Irish subsidiary in a location – like Bermuda —with lower or no income taxes Tech giant Google shifted $22.7bn through a Dutch shell company to Bermuda in 2017, in a move that …
French government to ‘suspend’ fuel tax hike
“It is first step, but we will not settle for crumb,” said Benjamin Cauchy, one of leaders of protests
EGX rises again after 5 days from tax accounting decision on governmental debt instruments
Today the Egyptian capital market has started to rise again by small rate due to some reports saying that the Federation of Egyptian Banks (FEB) is trying to reach an agreement with the ministry of finance.
Finance Ministry, FEB will decide tax accounting on government debt instrument Wednesday
Following this decision, the FEB formed a specialised committee to study this decision and its impact on the banks’ profits.
Scenarios after Tax Cuts on European Cars
Egypt and the EU signed an agreement on 25 June 2001 in Brussels to establish a free-trade zone for a maximum period of 12 years from the time the agreement goes into gradual effect, while liberalising Egyptian imports from industrial goods of the EU extending to 16 years. This agreement requires reducing European car customs …
Private house owners spared from real estate tax, to provide tax relief until the end of June 2019: finance minister
Citizens who qualify for real estate tax law, can apply for tax instalments, says Moeit
Real estate tax participates in improving services provided to citizens: Real Estate Investment Division member
Alaa Fekry, member of the Board of Directors of the Real Estate Investment Division at the Federation of Egyptian Chambers of Commerce (FEDCOC) said that applying the real estate tax on units exceeding EGP 2m under specific conditions is a good and balanced tool to increase state resources without harming low and middle-income citizens. Fekry …
ETA completes preparations to implement decision to submit tax return declarations online
The Ministry of Finance confirmed that the Egyptian Tax Authority (ETA) has completed its preparations to begin implementation of the decision of the minister of finance obligating the tax community to submit tax returns online. Thus, the ETA has prepared many online facilities and equipment to facilitate the implementation of the decision by the tax …
SMEDA renegotiates Ministry of Finance on tax incentives in MSMEs law
We are in contact with new finance minister, look forward for discussion in new parliamentary session: Gamea