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Tax will rise from EGP 54,000 to EGP 500,000 for industrial activities, while commercial actives will generate a tax rise from EGP 150,000 to 500,000
Initiative aims to deepen dialogue with developing countries and develop diagnostic tools for member countries to evaluate and strengthen tax policies
Matar says amount to be collected within current fiscal year
Ministry of Finance plans to increase tax revenues for fiscal year (FY) 2015-2016 to EGP 422bn
Finance minister said government collected EGP 180bn in nine months
Some controversial decisions are still awaiting final cabinet approval to be sent to presidency for ratification
Beans consumption amounted to EGP 1.8bn during Ramadan alone, there are over 2m bean carts in Egypt, says NCFPMAC
Google is repeating a familiar story by avoiding tax payments, to achieve maximum short-term revenues, while ordinary people are left to pay the bill for basic services which directly benefit the company.
Facebook and Google’s lack of headquarters in Egypt gives companies profits without taxes
Days before Economic Summit, the government announced it would unify income taxes at 22.5% for 10 years
Regulations offered to facilitate application of property tax law
Greater Cairo Tobacco Association demanded President Al-Sisi holds Finance Minister accountable for failed financial policies
Approximately EGP 250m were collected in 2015: MCDR Head
Government decisions not enough, Egypt needs to treat economic crisis by developing comprehensive economic plan, economic analyst
Government received offers from abroad to finance Suez Canal project but opted to finance it domestically, say finance minster
Budget revenues increase by 0.7% to reach EGP 34.4bn
IMF engagements on the other hand, are not expected to take place
Account freezing is “a normal step taken with anyone”, the official says
Electronic payments for taxes increase GNP by 0.75% per annum due to more liquidity available in the country, the study says
Government struggling to expand resources through tax reform imposing new taxes, fighting tax evasion
The tax on other alcoholic beverages, such as wine and spirits manufactured locally or imported from abroad, has been increased by 150%, with the minimum set at EGP 15 per litre.
Government considering imposing taxes on stock market to increase revenues
Government aims to increase tax revenues in new budget, but has refrained from specifying measures to be taken
Reuters – Egyptian property developer Talaat Moustafa posted a first-quarter profit after tax of EGP 160.8m ($23m) on Wednesday, up 15% from a year earlier, it said in an emailed statement. Revenues fell to EGP 1.14bn from EGP 1.52bn, it said.
Government says new 5% tax on income over EGP 1m will bring in additional resources for development projects; private sector sees additional burden on already strained economy
The crisis lender is sensitive to charges it dictates socially and economically harsh reforms on countries availing themselves of its support.
It is the biggest loan package Tunisia has received since the 2011 revolution that toppled autocratic president Zine El-Abidine Ben Ali.
Minister of Finance had earlier announced new selling prices
Minister of Finance says additional revenue vital to reining in budget deficit
So, the constitutional referendum, as expected, has passed with flying colours. Official results cite a turn out that’s over 20 million people who voted Yes for the constitution by 98%. It is again worth noting that the supreme majority of those who voted for the constitution didn’t bother reading it or care what was in …