VAT hikes movie production costs by EGP 2 mn per movie -Cinema Chamber head

Applying the value-added tax (VAT) increases the cost of movies filmed in Egypt by an average of EGP 2 mn, the Federation of Egyptian Industries’ Cinema Chamber head Farouk Sabry tells Al Borsa. The Chamber has been pushing for lowering the VAT rate, but the Tax Authority refused. The Chamber is also looking to get approvals to waiver fees for shooting in touristic sites for Egyptian productions and lowering them for foreigners’.