Egypt has announced that it will bring forward to 1 July 2017 a 1% VAT rise to 14%.
The original plan had been to raise VAT on 1 October 2017. However, the government faces a large deficit.
VAT was introduced into Egypt at 13% on 1 October 2016. It replaced the 10% Sales tax. The purpose was to improve the efficiency of tax collections, and broaden the tax base. VAT also helps reduce the tax burden on job-creating manufactures, and help improve Egypt’s global competitive profile.
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