{"id":571207,"date":"2020-05-04T03:51:38","date_gmt":"2020-05-04T03:51:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/house-approves-new-fees-to-help-government-plug-the-deficit-as-it-spends-bns-to-fight-covid-19\/"},"modified":"2020-05-04T03:51:38","modified_gmt":"2020-05-04T03:51:38","slug":"house-approves-new-fees-to-help-government-plug-the-deficit-as-it-spends-bns-to-fight-covid-19","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/04\/house-approves-new-fees-to-help-government-plug-the-deficit-as-it-spends-bns-to-fight-covid-19\/","title":{"rendered":"House approves new fees to help government plug the deficit as it spends bns to fight covid-19"},"content":{"rendered":"<p><a id=\"tldr-story-04\" class=\"content-anchor\"><\/a> <strong>LEGISLATION WATCH- House approves new fees to help government plug the deficit <\/strong><strong>as it spends bns to fight covid-19:<\/strong> The House Planning and Budgeting Committee approved yesterday a series of new \u201cdevelopment fees\u201d proposed by the Finance Ministry to help it plug the fiscal deficit as the state mobilizes cash to fight covid-19, <a href=\"https:\/\/www.shorouknews.com\/news\/view.aspx?cdate=03052020&id=dced2db0-7e81-4c08-9688-17e6ebabddbb\">according to Al Shorouk<\/a>. <strong>The measures will see everything from mobile phones to pet food get just a little bit more expensive. <\/strong><\/p>\n<p>Among the newly imposed or newly hiked fees:<\/p>\n<ul>\n<li><strong>Mobile phones and accessories<\/strong> would be subject to a 5% fee on the total cost after tacking on VAT and other taxes;<\/li>\n<li><strong>Commercial internet bills<\/strong> would be subject to a 2.5% fee;<\/li>\n<li><strong>Pet food<\/strong> would be subject to a fee equivalent to 25% of the customs invoice for the product;<\/li>\n<li><strong>A EGP 2 fee will be applied to all transactions charged EGP 0.05 or more in stamp tax<\/strong>, with the exception of butane cylinders and individual tickets for railway and land transport;<\/li>\n<li><strong>Fees for concerts and other entertainment events<\/strong> in hotels or public spaces would rise to 12% from 10%. Events hosted by both the state and by organizations affiliated with the Culture Ministry would be exempt;<\/li>\n<li><strong>Contracts between sporting teams and foreign or local athletes or coaches<\/strong> would be subject to a 3-10% fee, depending on the value of the contract;<\/li>\n<li><strong>Raw tobacco<\/strong> would be subject to a fee of EGP 1.5\/kg, while <strong>manufactured tobacco products and shisha tobacco<\/strong> would be subject to a EGP 3\/kg fee;<\/li>\n<li><strong>Imported finished steel products<\/strong> sold on the local market would be subject to a 10% fee after customs and taxes.<\/li>\n<\/ul>\n<p><strong>One fee that didn\u2019t make it past the committee:<\/strong> A new EGP 0.30 \/ liter development fee on gasoline and EGP 0.25 \/ liter on diesel, <a href=\"https:\/\/alborsaanews.com\/2020\/05\/03\/1334423\">according to the local press<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- House approves new fees to help government plug the deficit as it spends bns to fight covid-19: The House Planning and Budgeting Committee approved yesterday a series of new \u201cdevelopment fees\u201d proposed by the Finance Ministry to help it plug the fiscal deficit as the state mobilizes cash to fight covid-19, according to [&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":[8572],"tags":[5045,72,5043,9317,2380,278,5044,1041],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-571207","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-and-military-production-authority","tag-enterpriseam","tag-house-speaker-ali-abdel-aal","tag-planning-and-budgeting-committee","tag-speed-round","tag-state-budget","tag-state-development-act","tag-treasuries","wpautop","entry"],"acf":{"mongo_id":"b8f5970a-0655-4a51-b85e-9643444c399c","is_powered_by":true,"section_story_id":"911208cc-7e2c-43c6-9b09-9f249c961415","story_type":"1","photo_url":"","photo_position":"above","related_issue":[571197],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The FEI had been lobbying against\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":571242,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/05\/finmin-pushes-through-change-to-levy-on-fuel-as-house-green-lights-new-fees-to-help-shore-up-public-finances\/","url_meta":{"origin":571207,"position":1},"title":"FinMin pushes through change to levy on fuel as House green-lights new fees to help shore up public finances","author":"enterpriseam admin","date":"5 May 2020","format":false,"excerpt":"LEGISLATION WATCH- FinMin pushes through change to levy on fuel as House green-lights new fees to help shore up public finances: The House of Representatives has approved the government\u2019s plan to directly pocket a levy on fuel as part of a series of new \u201cdevelopment fees\u201d to shore up government\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570916,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/house-approves-egp-10-bn-additional-provision-for-fy2019-2020-budget\/","url_meta":{"origin":571207,"position":2},"title":"House approves EGP 10 bn additional provision for FY2019-2020 budget","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves EGP 10 bn additional provision for FY2019-2020 budget: The House of Representatives\u2019 general assembly has approved the government\u2019s request to allocate an additional EGP 10 bn in the FY2019-2020 budget to help the state fight the covid-19 pandemic, according to Al Mal. 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