Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, issued a decision to form a committee for setting up an electronic system at all sea, air, and land ports to facilitate the process of value-added tax (VAT) refunds on goods bought by foreign tourists from the Egyptian market.
This step will help boost tourism in the country and transform resorts into international shopping hubs, Maait said in a statement on Sunday.
A new company will be established in collaboration with an international company to manage this system at all ports, starting with Sharm El-Sheikh before the end of 2021. The VAT refunds will be made for purchases worth more than EGP 1,500.