{"id":555068,"date":"2021-11-01T03:50:19","date_gmt":"2021-11-01T03:50:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/"},"modified":"2021-11-01T03:50:19","modified_gmt":"2021-11-01T03:50:19","slug":"egypt-is-getting-a-digital-vat-drawback-system","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/","title":{"rendered":"Egypt is getting a digital VAT drawback system"},"content":{"rendered":"

<\/a> Tourists shopping in Egypt will soon be able to claim VAT drawback via a <\/strong>digital <\/strong>system prior to departure<\/strong>, the Finance Ministry said in a statement<\/a> yesterday.<\/p>\n

Tourists will need to spend at least EGP 1.5k<\/strong> on an item <\/strong>to reclaim VAT<\/strong>; only visitors who stay in Egypt for less than three months can claim a drawback.<\/p>\n

The sy<\/strong><\/sup>stem will be gradually rolled out across the country<\/strong>: The project will begin in Sharm El Sheikh and Hurghada before the end of the year before being extended to Luxor and Aswan and then all of Egypt\u2019s cities and ports, FinMin tax advisor Ramy Youssef said yesterday (watch, runtime: 4:33<\/a>).<\/p>\n

A local company will be established to run the new system alongside an unnamed international firm<\/strong>, according to the statement. Recently listed state e-payments firm e-Finance<\/a> and its e-Tax subsidiary look set to be involved, with representatives from both firms joining the government committee tasked with managing the rollout.<\/p>\n

The latest in a digital overhaul of taxation: <\/strong>The VAT drawback system joins the unified digital tax system<\/a> and e-invoicing<\/a> initiatives currently underway as Egypt looks to digitize its tax system.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tourists shopping in Egypt will soon be able to claim VAT drawback via a digital system prior to departure, the Finance Ministry said in a statement yesterday. Tourists will need to spend at least EGP 1.5k on an item to reclaim VAT; only visitors who stay in Egypt for less than three months can claim […]<\/p>\n","protected":false},"author":1,"featured_media":555069,"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":[7377],"tags":[72,276,69,238,7110],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tourism","tag-enterpriseam","tag-finance-ministry","tag-tax","tag-tourism","tag-vat","wpautop","entry"],"acf":{"mongo_id":"86c4219a-0ed1-4795-97f1-c0ad08bfeac9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/272.png","photo_position":"above","related_issue":[555057],"teaser":"","voice_url":""},"yoast_head":"\nEgypt is getting a digital VAT drawback system - 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\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt is getting a digital VAT drawback system\" \/>\n<meta property=\"og:description\" content=\"Tourists shopping in Egypt will soon be able to claim VAT drawback via a digital system prior to departure, the Finance Ministry said in a statement yesterday. Tourists will need to spend at least EGP 1.5k on an item to reclaim VAT; only visitors who stay in Egypt for less than three months can claim […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-01T03:50:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/272.png?fit=%2C&ssl=1\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt is getting a digital VAT drawback system\",\"datePublished\":\"2021-11-01T03:50:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/\"},\"wordCount\":197,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/11\/272.png?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Finance Ministry\",\"tax\",\"tourism\",\"VAT\"],\"articleSection\":[\"Tourism\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/01\/egypt-is-getting-a-digital-vat-drawback-system\/\",\"name\":\"Egypt is getting a digital VAT drawback system - 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Companies have until early May to submit the necessary documents to the Tax Authority.","rel":"","context":"In "Tourism"","block_context":{"text":"Tourism","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/tourism\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650101,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/","url_meta":{"origin":555068,"position":3},"title":"VAT expected to bring in EGP 190-200 bn next fiscal year","author":"enterpriseam admin","date":"16 March 2017","format":false,"excerpt":"The value-added tax (VAT) is forecast to bring in revenues of EGP 190-200 bn during FY2017-18, the Finance Ministry VAT commissioner Abdel Moneim Mattar said at the Egypt Builders Conference yesterday, according to an emailed statement. 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