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21 July 04:43 PM

Taxes

Tax revenues accounted for 80.2% of Egypt’s total revenues
16 July 05:39 PM Egypt’s foreign trade tax revenues hit EGP 35.5bn in 11M
By: Islam Fadl  Cairo – Mubasher: Egypt’s revenues from taxes on foreign trade increased by 16.7% year-on-year during the first 11 months of fiscal year 2018/2019, data released by the Ministry of Finance showed. Revenues from taxes levied on …
Egypt's total tax revenues stood at EGP 613.38 billion
16 July 11:33 AM Egypt’s car tax revenues hit EGP 5.5bn in 11M
By: Islam Fadl Cairo – Mubasher: Egypt’s revenues from taxes and charges levied on vehicles surged by 84.27% year-on-year during the first 11 months of fiscal year 2018/2019, according to data released by the ministry of finance. Revenues from …
Egypt's tax revenues increased to EGP 613.38 billion
14 July 06:53 PM Egypt nets EGP 42.7bn tax revenue from sovereign debt in 11M
By: Islam Fadl Cairo – Mubasher: Egypt’s tax revenue from the yield on treasury bills (T-bills) and treasury bonds (T-bonds) rose by 7.15% year-on-year during the first 11 months of fiscal year 2018/2019, data released by the Ministry of Finance …
Taxes
Egypt's tax revenues increased to EGP 613.38 billion
14 July 05:40 PM Egypt’s VAT revenues hit EGP 310bn in 11M
By: Islam Fadl Cairo – Mubasher: Egypt’s proceeds from the value-added tax (VAT) grew by 19.66% year-on-year during the first 11 months of fiscal year 2018/2019, according to data released by the Ministry of Finance (MoF). Revenues from VAT on …
Macroeconomics
The stamp duty will be kept at EGP 1.5
11 July 04:48 PM Egypt’s parliament approves scraping stamp tax rise on stock trades
Cairo – Mubasher: Egypt’s parliament has approved a draft law maintaining stamp duty tax on trading on the Egyptian Exchange (EGX) at EGP 1.5 per 1,000 until 16 May 2020, Middle East News Agency (MENA) reported. The law includes cancelling the …
Taxes
Tax revenues from Suez Canal amounted to EGP 34.2 billion
11 July 03:57 PM Suez Canal revenues hit EGP 60.5bn in 11M
Cairo – Mubasher: Egypt’s Suez Canal reported a 27.7% year-on-year increase in its revenues during the first 11 months of fiscal year 2018/2019. Tax and non-tax revenues from Suez Canal amounted to EGP 60.5 billion from July 2018 to last May, …
Macroeconomics
A total of 7,102 cars valued at EGP 1.974 billion were released
8 July 02:22 PM Alexandria Customs issues clearance for EGP 3.7bn cars, spare parts in June
Cairo – Mubasher: Alexandria Customs has collected total taxes of EGP 957 million for issuing customs clearance for cars and spare parts at a combined value of EGP 3.7 billion in June, the Egyptian finance ministry said in a statement on Monday.   …
Macroeconomics
The settlement will result in increasing shareholders' rights by SAR 15.79 million
1 July 01:13 PM MedGulf reaches SAR 115.6m Zakat settlement deal
Riyadh – Mubasher: The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) announced that it has reached an agreement with the Saudi General Authority of Zakat and Tax (GAZT) to settle tax and Zakat claims for fiscal years 2007 …
Mashaer Holding Co logged a profit KWD 238,420 in Q1-19
30 June 06:02 PM Mashaer posts KWD 1.375m profit from tax settlement with Saudi GAZT
Mubasher: Mashaer Holding Co. announced that its final tax settlement with Saudi General Authority of Zakat and Tax (GAZT) will deliver profits of KWD 1.375 million ($4.6 million). The impact of this settlement will be realised in the company’s …
Corporate Actions
GTH reported a net profit of $54.3 million in Q1-19
26 June 03:49 PM Global Telecom concludes EGP 2.3bn tax settlement deal
Cairo – Mubasher: Global Telecom Holding (GTH) on Wednesday announced signing a settlement deal worth $136 million (EGP 2.3 billion) with the Egyptian Tax Authority, according to a statement to the Egyptian Exchange (EGX).   Egypt’s Financial …
Corporate Actions
Google is in talks with the tourism ministry to increase the number of tourists
24 June 03:37 PM Google denies receiving info on new Ad taxes from Egypt’s gov’t
By: Islam Fadl         Cairo – Mubasher: Google has not received any information from the Egyptian government concerning imposing new taxes on advertisements, Google’s country manager for Egypt Hisham El-Nazer said.  The US tech giant will …
Taxes on the Suez Canal increased to EGP 29.2bn
22 June 07:46 PM Suez Canal adds EGP 54.7bn to Egypt’s general budget
Cairo – Mubasher: Egypt’s general budget revenue from Suez Canal surged 42% year-on-year to EGP 54.7 billion during the first nine months of the fiscal year 2018/2019. Taxes on the Suez Canal increased to EGP 29.2 billion from July to April, …
Macroeconomics
Tax revenue accounted for 80% of Egypt’s total revenue
21 June 07:49 PM Egypt’s VAT returns rise 19% in 10M
Cairo – Mubasher: Total value-added taxes (VAT) collected by the Egyptian government reached EGP 276.72 billion ($16.58 billion) during the first 10 months of the current fiscal year, up 18.7% from the year before. Egypt’s proceeds from sales tax …
Macroeconomics
The new programme aims to enhance the added value of Egyptian exports
20 June 01:30 PM Egypt’s export support programme comes into effect in July
Cairo – Mubasher: Egypt’s draft law for small and medium-sized enterprises (SMEs) recently approved by the cabinet and referred to the parliament includes tax, customs, and financing incentives to encourage the informal sector to enter the …
Law
Revenues from taxes and charges on cars stood at EGP 5.2 billion
20 June 11:09 AM Egypt’s car tax revenues hike 91% in 10M
By: Ahmed Ammar Cairo – Mubasher: Egypt’s revenues from taxes and charges levied on vehicles surged by 91% during the first ten months of fiscal year 2018/2019, according to data released by the ministry of finance. Revenues from taxes and charges …
Taxes
The royal decree shall come into effect starting June 2019
19 June 02:54 PM Oman allows tax breaks for tourism investments in Musandam
Mubasher: Oman’s tourism minister has welcomed the new Royal Directive issued by Sultan Qaboos bin Said to grant tax exemptions to any new investor who is interested in establishing a tourist project in Musandam. By implementing this new decree, …
Taxes
Egypt’s total tax revenue stood at EGP 550.27 billion
19 June 10:34 AM Egypt nets $39.5bn taxes on T-bills, T-bonds in 10M
By: Ahmed Ammar Cairo – Mubasher: Egypt’s revenue from taxes on the returns of treasury bills and bonds rose by 11.4% year-on-year during the first ten months of fiscal year 2018/2019, data released by the country’s ministry of finance (MoF) …
Banking and Finance
FECC plans to increase exports to duty free markets in neighbouring countries
17 June 01:53 PM Egyptian chambers of commerce collect above EGP 1.4bn taxes
Cairo – Mubasher: Egyptian chambers of commerce have succeeded in streamlining procedures for submitting tax declarations and collected more than EGP 1.4 billion in taxes for the Egyptian Tax Authority (ETA) in the last tax season, head of the …
Macroeconomics
Abu Dhabi National Exhibitions Company
13 June 03:56 PM ADNEC obtains License for VAT waiver
UAE – Mubasher: Abu Dhabi National Exhibitions Company (ADNEC) on Thursday announced that it has obtained Federal Tax Authority (FTA) License for waivers from the value-added tax (VAT). The new license will enable ADNEC to exempt all international …
Companies Investments
The decision will come into force on 1 December 2019
13 June 02:55 PM Saudi Arabia to impose selective tax on soft drinks in December
Riyadh – Mubasher: Saudi Arabia is set to begin implementing a selective tax on soft drinks in December 2019, according to a recent statement by the General Authority for Zakat and Tax (GAZT). In May, the authority approved amendments to existing …
Taxes
"The kiosks were placed at all exit ports"
11 June 05:27 PM UAE takes steps to ease VAT recovery for tourists
UAE – Mubasher: The UAE’s Federal Tax Authority (FTA) has set a variety of self-service to allow tourists to recover value-added tax (VAT) when leaving the country. The kiosks are operated by Planet, a company enlisted by the FTA to operate the …
Macroeconomics
EgyptAir Holding Company’s profits registered EGP 951 million in H1 of FY18/19
10 June 11:59 AM EgyptAir expects EGP 2.5bn additional profits after restructuring
Cairo – Mubasher: EgyptAir Holding Company is expected to post additional profits of up to EGP 2.5 billion during the period from 2019 to 2022 after restructuring the air carrier and its subsidiaries, Egypt’s civil aviation minister said. Egypt’s …
Companies Investments
Port Said has issued clearance for 261 private passenger cars
9 June 02:31 PM Port Said collects EGP 156m customs of cars in May
Cairo – Mubasher: The Egyptian Customs Authority has collected around EGP 155.9 million in customs duties imposed on cars at Port Said Free Zone in May, a source told Middle East News Agency (MENA). Port Said Free Zone has issued customs clearance …
Taxes
Individual taxpayers are allowed to use this service
3 June 02:31 PM Egypt’s MoF obligates firms to submit tax declarations online in 2020
Cairo – Mubasher: Egypt’s finance minister Mohamed Maait has issued amendments to the executive regulations of income tax law as part of the government’s digital transformation plan, according to a statement released by the Ministry of Finance …
The royal decree would attract further foreign investments into the governorate
3 June 02:24 PM Oman’s 2040 tourism plan to revive on new royal decree
Mubasher: The Sultanate of Oman has issued a new decree that grants tax exemptions for tourism projects in the Omani governorate of Musandam that came into effect as of 1 June, according to the Minister of Tourism. The Omani government also plans …