{"id":589385,"date":"2023-06-26T00:00:00","date_gmt":"2023-06-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/26\/gold-jewelry-dues-in-the-spotlight-on-the-talk-shows\/"},"modified":"2023-06-26T00:00:00","modified_gmt":"2023-06-26T00:00:00","slug":"gold-jewelry-dues-in-the-spotlight-on-the-talk-shows","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/26\/gold-jewelry-dues-in-the-spotlight-on-the-talk-shows\/","title":{"rendered":"Gold jewelry dues in the spotlight on the talk shows"},"content":{"rendered":"

Changes to VAT and other duties on gold dominated the airwaves last night. <\/span>The <\/span>talking heads also gave some airtime to a new public health drive launched by the government, and an unfolding Thanaweya Amma exam drama. <\/span><\/p>\n

Gold gets hits by new dues: <\/span>A processing <\/span>fee levied by the government on gold will rise by 10% at the start of the new fiscal year that begins on 1 July, Hani Milad, head of the Cairo Chamber of Commerce\u2019s gold division, confirmed to Amr Adib on El Hekaya (<\/span>watch, runtime: 5:53<\/a><\/span>). <\/span><\/p>\n

A hundred <\/span>grams<\/span> or less = jewelry:<\/span> 24-karat gold bars weighing 100 grams or less will be considered jewelry for tax purposes \u2014 <\/span>meaning they will be subject to the processing fee as well as a 14% <\/span>value-added tax (VAT<\/span>)<\/span> on the fees, Nagy Farag, advisor to the Supply Ministry, told Lamees El Hadidi on Kelma Akhira (<\/span>watch, runtime: 9:49<\/a><\/span>). The move is meant to \u201credistribute sales\u201d in favor of jewelers after rising demand for gold bars and bullion negatively impacted demand for jewelry, Farag said. <\/span><\/p>\n

DATA POINT- Gold imports more than halved y-o-y to USD <\/span>41.2 mn in 1Q 2023<\/span>, down from USD 85 mn<\/span>, <\/span>Al Arabiya<\/a><\/span> reports citing CAPMAS data. Egyptians have imported over <\/span>306kg of gold<\/a><\/span> since the government eased government regulations on 11 May.<\/span><\/p>\n

Gov\u2019t <\/span>launches EGP 35 bn, 100-day health initiative:<\/span> The government will provide first-line medical care without charge \u2014 including at-home examinations for people who are unable to visit Health Ministry-affiliated clinics \u2014 as part of the 100-day public health scheme it launched yesterday, <\/span>Health Minister Khaled Abdel Ghaffar told El Hekaya (<\/span>watch, runtime: 18:46<\/a><\/span>). The cost of the campaign could reach up to EGP 35 bn, he added. <\/span><\/p>\n

The scheme is part of a wider government initiative to offer health services not available under health ins. schemes<\/span>, including potentially costly treatments for rapid onset diseases, Ittihadiya health advisor Mohamed Awad Tag El Din told Ala Mas\u2019ouleety (<\/span>watch, runtime: 18:41<\/a><\/span>). The campaign was also covered by Al Hayah Al Youm (<\/span>watch, runtime: 1:19<\/a><\/span>) and Masa\u2019a DMC (<\/span>watch, runtime: 3:10<\/a><\/span>).<\/span><\/p>\n

Thanaweya Amma drama:<\/span> The Education Ministry has formed a committee of 10 experts to review yesterday\u2019s chemistry exam after students complained that it was too difficult. The story was covered by Ala Mas\u2019ouleety (<\/span>watch, runtime: 11:26<\/a><\/span>), El Hekaya (<\/span>watch, runtime: 3:31<\/a><\/span>) and Masa\u2019a DMC (<\/span>watch, runtime: 5:08<\/a><\/span>) among others. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold bars lighter than 100 grams will now be considered jewelry and subject to processing fees<\/p>\n","protected":false},"author":1,"featured_media":589386,"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":[7232],"tags":[317,72,7093,7115,106,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-commodities","tag-enterpriseam","tag-gold","tag-healthcare","tag-last-nights-talk-shows","tag-tax","wpautop","entry"],"acf":{"mongo_id":"0fdeb9b9-31d4-4220-9a67-49f9bbf035e6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1296.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gold jewelry dues in the spotlight on the talk shows","related_issue":[589369],"teaser":"Gold bars lighter than 100 grams will now be considered jewelry and subject to processing fees","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.0fc06832-a5d6-4f8f-8d87-81e80d29695d.mp3"},"yoast_head":"\nGold jewelry dues in the spotlight on the talk shows - 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