{"id":553939,"date":"2021-12-14T03:57:05","date_gmt":"2021-12-14T03:57:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/"},"modified":"2021-12-14T03:57:05","modified_gmt":"2021-12-14T03:57:05","slug":"tax-anything-that-moves","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/","title":{"rendered":"Tax anything that moves"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>A raft of new tax hikes, <\/strong><strong><a href=\"https:\/\/ent.news\/2021\/12\/development-fee-amendments.pdf\">duties and development fees<\/a><\/strong><a href=\"https:\/\/ent.news\/2021\/12\/development-fee-amendments.pdf\">(pdf)<\/a> proposed by the Madbouly government got the greenlight from the House Planning and Budgeting Committee yesterday, <a href=\"https:\/\/bit.ly\/3pTB3Za\">Youm7<\/a> reports.<\/p>\n<p><strong>The breakdown:<\/strong><\/p>\n<ul>\n<li><strong>Finished d<\/strong><strong>urable goods<\/strong><strong> will be subject to a 2% development fee<\/strong> while locally-produced and imported soft drinks will be subject to a development fee equivalent to 5% of their values, with a minimum of EGP 0.25. Look for the Finance Ministry to define what qualifies as a durable good for the purpose of the development fee.<\/li>\n<li><strong>\u0650An entertainment tax:<\/strong> Entry to theaters, parks, clubs, sports events, and other entertainment venues would be subject to a 5-20% tax.<\/li>\n<li><strong>Duty notfree: <\/strong>A tax will be imposed on purchases from dutyfree shops equivalent to 3% of the product\u2019s value with a USD 1.50 minimum. The purchase of a single bottle of spirits will be taxed at the same rate but every additional bottle will be charged a higher 10% rate (or a USD 12 minimum). Members of the foreign diplomatic and consular workers are exempted from this fee, and dutyfree shops are obliged to collect the fee and submit it to the Egyptian Tax Authority.<\/li>\n<li><strong>Stamp tax hike:<\/strong> Stamp tax on most ins. premiums would be raised by 1% under amendments to the Stamp Tax Act. This means that policyholders and ins. companies would each see a 0.5% tax increase due to a clause in the legislation<sup><\/sup> that requires the tax to be split 50\/50.<\/li>\n<li><strong>Exit tax to double<\/strong><strong>:<\/strong> The existing EGP 50 exit tax for folks leaving the country would be raised to EGP 100 across the board, with the exception of tourists visiting the Red Sea, South Sinai, Luxor, Aswan and Matrouh governorates, whose exit fee would remain fixed at its current EGP 50. The tax would not be applied to bus or truck drivers transporting passengers or goods out of the country.<\/li>\n<\/ul>\n<p><strong>Wait, we have an exit tax? <\/strong>Yes, indeed we do. We also have airport fees and other charges \u2014 all of which are embedded in the final price of your plane ticket.<\/p>\n<p><strong>This isn\u2019t the first tax hike that has been announced in recent weeks:<\/strong> The government has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2913d0ad-bce1-47be-8b4e-7b1388e7a610\">hiked import tariffs<\/a> on mobile phones, demanded <a href=\"https:\/\/egyptindependent.com\/egypts-tax-authority-calls-on-private-tutors-to-pay-their-taxes\/\">illegal private tutors<\/a> start paying tax on their earnings, and announced plans to get <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ccf35d8e-673e-45ba-b632-634cf3767612\">online content creators to pay income tax<\/a> and remit VAT as it looks to raise revenues.<\/p>\n<p><strong>OTHER NEWS FROM THE HOUSE-<\/strong><\/p>\n<p><strong>Who says your education is top notch? <\/strong>The House also gave initial approval to a draft law that would establish a national authority for quality assurance and accreditation in technical and vocational education, <a href=\"https:\/\/bit.ly\/3ynh8Wr\">Youm7<\/a> reports.<\/p>\n<p><strong>You\u2019re also going to jail for longer if you smack around your MD: <\/strong>MPs have asked the constitutional and health committees to look at a bill that would toughen <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=13122021&id=35225ab4-10fd-4b67-ac86-b0f2db35a29e\">criminal penalties for assaulting medical staff<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A raft of new tax hikes, duties and development fees(pdf) proposed by the Madbouly government got the greenlight from the House Planning and Budgeting Committee yesterday, Youm7 reports. The breakdown: Finished durable goods will be subject to a 2% development fee while locally-produced and imported soft drinks will be subject to a development fee equivalent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7344],"tags":[73,72,274,180,187,3085,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553939","post","type-post","status-publish","format-standard","hentry","category-legislation-watch","tag-education","tag-enterpriseam","tag-house-of-representatives","tag-legislation","tag-legislation-watch","tag-penal-code","tag-tax","wpautop","entry"],"acf":{"mongo_id":"ec9eebbd-ab12-46d0-935e-536faf688582","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[553935],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tax anything that moves - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax anything that moves\" \/>\n<meta property=\"og:description\" content=\"A raft of new tax hikes, duties and development fees(pdf) proposed by the Madbouly government got the greenlight from the House Planning and Budgeting Committee yesterday, Youm7 reports. The breakdown: Finished durable goods will be subject to a 2% development fee while locally-produced and imported soft drinks will be subject to a development fee equivalent [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-14T03:57:05+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Tax anything that moves\",\"datePublished\":\"2021-12-14T03:57:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\"},\"wordCount\":467,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"Education\",\"EnterpriseAM\",\"House of Representatives\",\"legislation\",\"Legislation Watch\",\"penal code\",\"tax\"],\"articleSection\":[\"LEGISLATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\",\"name\":\"Tax anything that moves - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2021-12-14T03:57:05+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tax anything that moves\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Tax anything that moves - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/tax-anything-that-moves\/","og_locale":"en_US","og_type":"article","og_title":"Tax anything that moves","og_description":"A raft of new tax hikes, duties and development fees(pdf) proposed by the Madbouly government got the greenlight from the House Planning and Budgeting Committee yesterday, Youm7 reports. 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