FinMin exempts export freight fees from VAT

The Tax Authority has decided to exempt freight fees on exports from being subject to a VAT, Tax Authority head Emad Samy tells Al Masry Al Youm. The decision, which applies to air, land and sea shipping, came after extensive lobbying by the shipping division of the Federation of Egyptian Chambers of Commerce. Meanwhile, the Suez Canal Authority also reduced transit fees on shipping lines crossing from North America to Asia, authority head Mohab Mamish said.