Last Night’s Talk Shows: How VAT is levied on gold

It was a slow night even by Ramadan standards for the country’s talking heads. New rules signed yesterday between the Federation of Egyptian Chambers of Commerce (the unfortunately-named Fedcoc) and the Tax Authority on how to collect the 14% VAT on platinum, gold, silver and precious stones got an explainer courtesy of Al Hekaya’s Amr Adib (watch, runtime: 8:28). VAT will only be applied to stamped gold pieces, Hani Milad, head of Fedcoc’s gold and jewelry division, told Adib.