{"id":593952,"date":"2019-10-15T04:08:04","date_gmt":"2019-10-15T04:08:04","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/15\/finmin-finalizes-universal-healthcare-tithe\/"},"modified":"2019-10-15T04:08:04","modified_gmt":"2019-10-15T04:08:04","slug":"finmin-finalizes-universal-healthcare-tithe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/15\/finmin-finalizes-universal-healthcare-tithe\/","title":{"rendered":"FinMin finalizes universal healthcare tithe"},"content":{"rendered":"

LEGISLATION WATCH- Get ready for changes to the tithe that funds the Universal Healthcare Act. <\/b>The Finance Ministry said yesterday that it has drafted changes to the funding system for the new universal health insurance system, but stopped short of making clear what those changes are, according to a report in the domestic press<\/a>. The system is currently funded by a new 0.25% tithe on revenues imposed on all companies.<\/p>\n

The ministry acknowledged that the changes are being made after pressure from industry associations<\/b>, including the Federation of Egyptian Chambers of Commerce (which has the rather unfortunate acronym FEDCOC), the Cairo Chamber of Commerce and the Union of Egyptian Investors Associations.<\/p>\n

What was business asking for? <\/b>We had said back in March that lobby groups including the Federation of Egyptian Industries had proposed new mechanisms including that the 0.25% tithe on revenues (which is not tax deductible) be replaced with a 1% surtax on net profit.<\/p>\n

The ministry\u2019s proposal will now be reviewed by cabinet <\/b>before it heads to the House of Representatives for debate. In a separate statement<\/a> yesterday, the ministry said the new system is heavily endorsed by the nation\u2019s political leadership.<\/p>\n

Background: <\/b>Two government sources had told us<\/a> in September that the amendments would see the 0.25% tithe on revenues capped at EGP 10k per company. Loss-making companies will not be exempt from the payment. The ministry had previously suggested imposing the cap at EGP 100k, but brought the figure down to EGP 10k when the proposal met with backlash from the business community. The government began rolling out its EGP 600 bn health insurance plan in Port Said in July, and more governorates will be added gradually over the course of the next 11-13 years.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Get ready for changes to the tithe that funds the Universal Healthcare Act. The Finance Ministry said yesterday that it has drafted changes to the funding system for the new universal health insurance system, but stopped short of making clear what those changes are, according to a report in the domestic press. The […]<\/p>\n","protected":false},"author":1,"featured_media":593953,"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":[72,180,2380,4175],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593952","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-legislation","tag-speed-round","tag-universal-healthcare-act","wpautop","entry"],"acf":{"mongo_id":"c05c3cc8-a8f8-42a4-97dd-b6a4b31b3ea0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Health-care-1600px.jpg","photo_position":"above","related_issue":[593947],"teaser":"","voice_url":""},"yoast_head":"\nFinMin finalizes universal healthcare tithe - 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\/2019\/10\/15\/finmin-finalizes-universal-healthcare-tithe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin finalizes universal healthcare tithe\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Get ready for changes to the tithe that funds the Universal Healthcare Act. 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to announce final specifics of healthcare tithe this week: The Finance Ministry will announce this week its final framework for the 0.25% levy businesses will be required to pay this year to finance the national healthcare system under the Universal Healthcare Act, according to a domestic press report citing\u2026","rel":"","context":"In "Speed Round"","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":602824,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/08\/egypts-healthcare-tithe-this-year-will-definitely-be-on-topline\/","url_meta":{"origin":593952,"position":1},"title":"Egypt\u2019s healthcare tithe this year will definitely be on topline","author":"enterpriseam admin","date":"8 April 2019","format":false,"excerpt":"EXCLUSIVE- Healthcare tithe this year will definitely be on the top line: The 0.25% levy businesses will have to pay as part of the Universal Healthcare Act will definitely be on revenues for the current fiscal year, Tax Authority head Abdel Azim Hussein tells us, implying that it is just\u2026","rel":"","context":"In "Speed Round"","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":601850,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/12\/egypt-parliament-looking-to-make-0-25-healthcare-tithe-tax-deductible\/","url_meta":{"origin":593952,"position":2},"title":"Egypt parliament looking to make 0.25% healthcare tithe tax-deductible","author":"enterpriseam admin","date":"12 March 2019","format":false,"excerpt":"LEGISLATION WATCH- House looking to make 0.25% healthcare tithe tax-deductible: The House of Representatives is set to discuss within the next few days amendments proposed by Rep. Mohamed El Sewedy that would make tax-deductible the 0.25% tithe on revenues that companies are required to pay to finance the new national\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602973,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/finance-ministry-issues-regulations-of-healthcare-tithe-for-current-tax-season\/","url_meta":{"origin":593952,"position":3},"title":"Finance Ministry issues regulations of healthcare tithe for current tax season","author":"enterpriseam admin","date":"11 April 2019","format":false,"excerpt":"EXCLUSIVE- It\u2019s official: You\u2019re going to be paying the healthcare tithe on your top line this year \u2014 and it won\u2019t be tax deductible: The 0.25% levy businesses will have to pay to finance the universal healthcare system will be charged on revenues and will not be tax deductible this\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602160,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/20\/government-considering-making-healthcare-tithe-on-profits-not-revenues\/","url_meta":{"origin":593952,"position":4},"title":"Government considering making healthcare tithe on profits not revenues","author":"enterpriseam admin","date":"20 March 2019","format":false,"excerpt":"EXCLUSIVE- FinMin considers making the 0.25% healthcare tithe on net profit, not revenue: The government is mulling whether to amend the national levy on revenues that companies are required to pay to finance the new national healthcare system to make it 0.25% of companies\u2019 bottom lines, rather than revenues, a\u2026","rel":"","context":"In "Speed Round"","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":602320,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/25\/egypt-agrees-to-set-0-25-healthcare-tithe-for-tourism-companies-on-commission-earned\/","url_meta":{"origin":593952,"position":5},"title":"Egypt agrees to set 0.25% healthcare tithe for tourism companies on commission earned","author":"enterpriseam admin","date":"25 March 2019","format":false,"excerpt":"Gov\u2019t agrees to set 0.25% healthcare tithe for tourism companies on commission earned: The government has agreed to calculate the 0.25% healthcare tithe for companies in the tourism industry based on the commission these companies earn on certain products and services such as airline tickets, rather than overall revenues, Al\u2026","rel":"","context":"In "Speed Round"","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=593952"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593952\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593953"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593952"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593952"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}