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Earnings watch: Egypt Aluminum plunges into the red in FY2019-20, QNB AlAhli reports 20% drop in 3Q2020 net profits
EARNINGS WATCH- Egypt Aluminum recorded EGP 1.67 bn of losses in FY2019-20, a year after turning a EGP 571 mn…
US imposes tariffs on aluminum imports from Egypt, 17 other nations
Egypt is among 18 countries facing almost USD 2 bn in combined US tariffs on aluminum sheet exports after an…
Egypt’s Tax Authority to launch phase two of e-invoicing system in February 2021
A total of 340 companies will be required to submit tax returns and sales receipts electronically as of February, when…
New stamp tax on securities will see the government collect up to 0.125% on every transaction
Lower stamp tax on EGX transactions is now in effect: Amendments to the Stamp Tax Act that lower the stamp…
FinMIn to set up department to manage tax processes for e-commerce
A department dedicated to overseeing the tax treatment of e-commerce firms will be set up by the Finance Ministry and…
Ads are still exempt from VAT, but not stamp tax and VAT on production inputs
Broadcast ads are exempt from VAT, but subject to stamp tax and VAT on production inputs: Intermediary goods and services…
Egypt’s exempts Cairo Opera House from July-September entertainment tax
CABINET WATCH- Cabinet grants Cairo Opera House an entertainment tax exemption as venues reopen: The Madbouly Cabinet has approved a…
Gov’t turns to customs breaks to spur EV revolution
Gov’t turns to customs breaks to spur EV revolution: The government is cutting to 10% the total value of local…
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