Egypt ratifies 13% VAT for 2016-17 fiscal year
The application of new tax rates is part of the government’s fiscal reform program including lower energy subsidies in order to reduce the country’s budget deficit.
Through the application of new taxes, the Egyptian economy is expected to gain EGP32 billion in the 2016-17 state budget, according to MP Sayed Abdel-Al who is a member of the Economic Committee in the parliament.
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