Value Added Taxes
In an open dialogue on the new budget draft with the commercial and industrial community, the minister said that if we cannot reduce the commercial and industrial profits tax, it will not be increased.
This comes in light of what has been confirmed by international experiences and studies that the best solution is always to involve the citizen in reporting transactions.
Egypt and Japan signed Sunday a grant agreement to support the establishment of an electronic system for calculating value added tax (VAT).
The Monetary Policy Committee hiked the overnight deposit and lending rates in an attempt to tame a new inflation wave on the back of slashing energy subsidies.
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