Egypt’s cabinet IDSC denies 18% tax on social media advertising

Gov’t denies 18% social media ad tax is already in place, but says it is working on a 15-20% levy: The Cabinet Information and Decision Support Center has issued a statement denying a report earlier this week in Al Malthat the Finance Ministry has begun requiring that advertisers charge an 18% tax on social media advertising campaigns run for overseas clients. The ministry is working on draft legislation to have ads on social media platforms subject to a 15-20% stamp tax that is “on par with international standards,” the statement notes.