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Changes to VAT and other duties on gold dominated the airwaves last night. The talking heads also gave some airtime to a new public health drive launched by the government, and an unfolding Thanaweya Amma exam drama.
Gold gets hits by new dues: A processing fee levied by the government on gold will rise by 10% at the start of the new fiscal year that begins on 1 July, Hani Milad, head of the Cairo Chamber of Commerce’s gold division, confirmed to Amr Adib on El Hekaya (watch, runtime: 5:53).
A hundred grams or less = jewelry: 24-karat gold bars weighing 100 grams or less will be considered jewelry for tax purposes — meaning they will be subject to the processing fee as well as a 14% value-added tax (VAT) on the fees, Nagy Farag, advisor to the Supply Ministry, told Lamees El Hadidi on Kelma Akhira (watch, runtime: 9:49). The move is meant to “redistribute sales” in favor of jewelers after rising demand for gold bars and bullion negatively impacted demand for jewelry, Farag said.
DATA POINT- Gold imports more than halved y-o-y to USD 41.2 mn in 1Q 2023, down from USD 85 mn, Al Arabiya reports citing CAPMAS data. Egyptians have imported over 306kg of gold since the government eased government regulations on 11 May.
Gov’t launches EGP 35 bn, 100-day health initiative: The government will provide first-line medical care without charge — including at-home examinations for people who are unable to visit Health Ministry-affiliated clinics — as part of the 100-day public health scheme it launched yesterday, Health Minister Khaled Abdel Ghaffar told El Hekaya (watch, runtime: 18:46). The cost of the campaign could reach up to EGP 35 bn, he added.
The scheme is part of a wider government initiative to offer health services not available under health ins. schemes, including potentially costly treatments for rapid onset diseases, Ittihadiya health advisor Mohamed Awad Tag El Din told Ala Mas’ouleety (watch, runtime: 18:41). The campaign was also covered by Al Hayah Al Youm (watch, runtime: 1:19) and Masa’a DMC (watch, runtime: 3:10).
Thanaweya Amma drama: The Education Ministry has formed a committee of 10 experts to review yesterday’s chemistry exam after students complained that it was too difficult. The story was covered by Ala Mas’ouleety (watch, runtime: 11:26), El Hekaya (watch, runtime: 3:31) and Masa’a DMC (watch, runtime: 5:08) among others.
