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How are Greeks dealing with the country’s new value-added tax? Where are they cutting corners? As Marinathi Milona reports from Thessaloniki, many Greeks feel the increase is the right plan at the wrong time.
Amended law presents new system for salaries and vacations for civil workers
No one will be harmed by application of the civil service law, says Dimian
Rating agency Moody’s expects that lower oil prices in FY 2014/2015 will reduce fuel expenses to around EGP 70bn compared to EGP 100bn in the original budget
Government continues to pursue same polices undertaken by NDP, by favouring interests of investors and businessmen over those of citizens, the statement read
Market indices increase more than 5% following the decision
According to Article 60, the law imposes a tax of 15% of advertising expenses on advertising via cinema houses, television screens, radio, billboards, or posters on buildings or vehicles.
Meeting to take place to determine next step for capital gains tax
Total income tax revenues decreased to 28% during the period from July to February in the current FY
The government considers with economic decisions and actions serve the foreign investor only, without considering the local investor, Holding Company for Spinning and Weaving member
Imposing new cigarette tax supports general state budget providing healthcare expenditure requirements, says Hossam El-Kawish
The United Bank will introduce in all branches a service for paying all government dues, such as individual and company taxes and customs, the bank’s chairman Mohamed Ashmawy revealed Thursday. The move comes in cooperation with the Ministry of Finance. Ashmawy stressed the significance of enhancing electronic payments in Egypt, instead of depending on traditional …
By Ahmed Amer The Federation of Egyptian Industries (FEI) has submitted a proposal to the ministries of Industry and Finance to amend the tax and customs system in place for the automotive sector. The proposal includes reassessing the sales tax on local and imported cars to boost domestic products, and granting advantages and competitiveness against …
Decision to support Mortgage Finance Fund’s activities and amended mortgage law would not touch on safeguards for registration of residential real estate
Ruling marks end of challenging period for OCI, says CEO Nassef Sawiris in exclusive statement to Daily News Egypt
Mostafa Abdel Qader, chairman of Egypt’s Tax Authority, requested that tax exemptions that Egypt has granted for decades be eliminated, stressing that Egypt has not reaped benefits from them and that they are a “type of intellectual colonisation”. “The imposition of taxes on dividends and capital gains represent a bigger step towards achieving greater justice,” …
Sector growth remains despite rise in prices of cement, concrete and steel
Egyptian government has previously announced a 1.6% estimate increase in tax revenues during the current fiscal year
Investment Minister Ashraf Salman declined to comment on the reason behind Sawiris visiting the investment ministry or the form of the new settlement
New presidential decree amends law governing military retirement
We continue to be committed to investing in Egypt, construction tycoon said.
President also issues tax on capital gains on stock market
Ministry of Finance expects tax revenue increases of EGP 6bn or 1.6% due to amendments to real estate and income tax laws, as well as new taxes on stock dividends and distributions
Installments will be based on each company’s circumstances
Using replacement value method would reduce property tax for Cairene hotels by 90%, says deputy chairman
Proposed property tax raises concerns over “double taxation”, Alia Al-Mahdi says
Government scraps “added” tax to provide excess liquidity to traders and to facilitate transactions. Estimated proceeds of the stock market and wealth tax is EGP 10bn
Dimian estimates that proceeds to the treasury from the new tax will range from EGP 5 – EGP 6bn, but this will be linked to market performance.
Responding to losses, Egyptian Exchange suspends trading for 30 minutes
FEDCOC head says claim tax will “destroy the investment climate”; government remains determined to implement it