Egypt VAT 2017
Egypt has confirmed that it will publish its long-expected VAT implementation bill this month. The launch date will be 1 January 2017.
The replacement of Egypt’s 10% Sales Tax with a fully-fledged VAT regime is seen as a key reform in the country’s economic revival. The effective double and compound tax on manufacturers with the current regime has stemmed the development of the sector. It has also discouraged the outsourcing market since this would incur additional, non-recoverable taxes on charges.
It is not yet clear what the rate will be, but it will be at least 10%.