• Tax

    In collaboration with a leading local accountancy firm, OBG provides an overview of the tax system, including information on corporate, sales and income taxes. Other topics include repatriation of profits, capital movements, investment incentives, Customs duties and free zones.
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In recent years the Egyptian government has made extensive changes to the country’s tax framework, including Law No. 96, issued in 2015 to modify some articles in the corporate income tax (CIT) law. The practical application of some of the new concepts in the tax law has been clarified with the issuance of a set of executive regulations.

Chapter | Tax from The Report: Egypt 2017

In conjunction with Deloitte, OBG explores the taxation system, examining Egypt’s investor-friendly environment.

While Egypt continues to face considerable economic challenges as it confronts the legacy of its recent political history, at the outset of 2017 the nation’s economic planners have reason for optimism.

 

The payment of taxes on wages, salaries, debt, withholding tax, value-added tax (VAT) and other taxes on turnover are due on either the 10th, 15th or 20th of each month for companies dependent on the Directorate of Large Enterprises or the Centre for Medium-sized Enterprises. The schedules are below.

 

All profits made by natural or legal persons while performing commercial, industrial or agricultural activities are subject to a tax rate of 25%. Professional profits generally, tasks and functions for which policyholders do not have a commercial capacity, and profits from all activities and sources that do not fall under any other revenue...

 

A department for VAT credit refunds was created back in 2006, fuelled by the 12% VAT collected by recipients from Customs and tax authorities, and deposited into an account at the Central Bank of West African States. The VAT credits are thus refunded, as funds get deposited into the account.