{"id":597864,"date":"2019-05-07T03:31:34","date_gmt":"2019-05-07T03:31:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/finmin-studies-setting-a-ceiling-on-egypts-healthcare-tithe-next-year\/"},"modified":"2019-05-07T03:31:34","modified_gmt":"2019-05-07T03:31:34","slug":"finmin-studies-setting-a-ceiling-on-egypts-healthcare-tithe-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/finmin-studies-setting-a-ceiling-on-egypts-healthcare-tithe-next-year\/","title":{"rendered":"FinMin studies setting a ceiling on Egypt\u2019s healthcare tithe next year"},"content":{"rendered":"

<\/a> EXCLUSIVE- FinMin studies setting a ceiling on healthcare tithe next year: <\/b>The Finance Ministry is studying a proposal that would set a limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, a senior official from the Finance Ministry told Enterprise on Monday. Under the measure now being considered, businesses would still pay the 0.25% levy on revenues<\/a>, but the payment would be capped at an amount equivalent to 1.5% of total net profits<\/b>, the source said.<\/p>\n

The proposal would also see lossmaking companies making a basic contribution. <\/b>Any company making a loss on its books will have to pay an EGP 1,000 healthcare tax for the year. Sole proprietorships (companies owned and operated by one person) making a loss would have to pay a minimum tax of EGP 100. The ministry decided against exempting loss-making companies from the tax as it could \u201copen the door for tax fraud,\u201d the source added.<\/p>\n

A concession to appease the business community:<\/b> The proposal was drafted as a sop to the business community, which had been advocating for the 0.25% levy to be transformed into a surtax on pre- or post-tax profits. This proposal is expected to reduce their tax burden, the official said. He hinted that this year\u2019s take from the healthcare tax had fallen short of projections. \u201cWe were unable to explore these amendments for the current fiscal year as the timeframe of implementing the tax has not allowed us to,\u201d he added. If enacted, these proposed amendments to the healthcare tax would go into effect in FY2019-2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- FinMin studies setting a ceiling on healthcare tithe next year: The Finance Ministry is studying a proposal that would set a limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, a senior official from the Finance Ministry told Enterprise on Monday. Under the measure now being considered, businesses […]<\/p>\n","protected":false},"author":1,"featured_media":597865,"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":[72,276,2380,69,4175],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-finance-ministry","tag-speed-round","tag-tax","tag-universal-healthcare-act","wpautop","entry"],"acf":{"mongo_id":"f6546a18-7c70-461f-befc-760bf81069df","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/2\/118.jpg","photo_position":"above","related_issue":[597859],"teaser":"","voice_url":""},"yoast_head":"\nFinMin studies setting a ceiling on Egypt\u2019s healthcare tithe next year - 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\/05\/07\/finmin-studies-setting-a-ceiling-on-egypts-healthcare-tithe-next-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin studies setting a ceiling on Egypt\u2019s healthcare tithe next year\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- FinMin studies setting a ceiling on healthcare tithe next year: The Finance Ministry is studying a proposal that would set a limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, a senior official from the Finance Ministry told Enterprise on Monday. 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FinMin mulls amending corporate healthcare tithe to impose across-the-board cap at EGP 10k: The Finance Ministry is considering introducing amendments to the Universal Healthcare Act that would set an across-the-board limit on the healthcare tithe paid by businesses to fund the new universal healthcare system, two government sources tell\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":602364,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/egypts-finmin-to-announce-specifics-of-healthcare-tithe-this-week\/","url_meta":{"origin":597864,"position":1},"title":"Egypt\u2019s FinMin to announce specifics of healthcare tithe this week","author":"enterpriseam admin","date":"26 March 2019","format":false,"excerpt":"FinMin 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":593952,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/15\/finmin-finalizes-universal-healthcare-tithe\/","url_meta":{"origin":597864,"position":2},"title":"FinMin finalizes universal healthcare tithe","author":"enterpriseam admin","date":"15 October 2019","format":false,"excerpt":"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\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\/7\/Health-care-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596866,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/10\/government-postpones-amendments-on-universal-healthcare-tithe\/","url_meta":{"origin":597864,"position":3},"title":"Government postpones amendments on universal healthcare tithe","author":"enterpriseam admin","date":"10 July 2019","format":false,"excerpt":"LEGISLATION WATCH- Gov\u2019t postpones amendments on healthcare tithe to next parliamentary session: The government has postponed talks over setting a cap on the corporate universal healthcare tithe until the next parliamentary session, the local press reported, citing unnamed government officials. Delaying the debate will allow for more input from other\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":597864,"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":602824,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/08\/egypts-healthcare-tithe-this-year-will-definitely-be-on-topline\/","url_meta":{"origin":597864,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597864","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=597864"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597864\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597859"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597865"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597864"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597864"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}