{"id":601850,"date":"2019-03-12T03:54:14","date_gmt":"2019-03-12T03:54:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/12\/egypt-parliament-looking-to-make-0-25-healthcare-tithe-tax-deductible\/"},"modified":"2019-03-12T03:54:14","modified_gmt":"2019-03-12T03:54:14","slug":"egypt-parliament-looking-to-make-0-25-healthcare-tithe-tax-deductible","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/12\/egypt-parliament-looking-to-make-0-25-healthcare-tithe-tax-deductible\/","title":{"rendered":"Egypt parliament looking to make 0.25% healthcare tithe tax-deductible"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <b>LEGISLATION WATCH- House looking to make 0.25% healthcare tithe tax-deductible:<\/b> 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 healthcare system, <a href=\"https:\/\/www.alborsaanews.com\/2019\/03\/11\/1185272\">according to local media reports<\/a>. The bill would also, if passed, add a clause to the Income Tax Act reflecting this change. The House planning, budgeting and health committees are expected to meet soon to review the proposed amendments, according to unnamed parliamentary sources.<\/p>\n<p><b>Reminder \u2014 the tithe is 0.25%, not 0.0025%:<\/b> The Finance Ministry confirmed to Enterprise <a href=\"https:\/\/enterprise.press\/stories\/2018\/11\/12\/we-break-down-the-taxes-under-the-universal-healthcare-act-and-their-timings\/\">earlier this year<\/a> that the taxman will take EGP 2.5 out of every EGP 1,000 in sales revenues. The tax rate that originally ran in the Official Gazette was incorrect, and the ministry has since issued a correction.<\/p>\n<p><b>Background:<\/b> The state\u2019s EGP 600 bn health insurance plan mandated under the Universal Healthcare Act will be rolled out incrementally throughout Egypt over the course of 11-13 years, but the Finance Ministry is expected to start collecting special taxes (including the 0.25% tithe) designed to fund the scheme during the current fiscal years. As it stands, all companies are to pay the 0.25% flat tax on revenues this year except under certain circumstances and in some sectors, a senior government source <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/16\/what-were-tracking-on-16-january-2019\/\">told Enterprise in January<\/a>, and <b>as it stands the 0.25% levy does not count as an expense that would reduce a company\u2019s pre-tax profit. <\/b>The Finance Ministry will set a tax formula for outliers on a case-by-case basis. Among those eligible for some relief for the tax are companies making losses, joint venture projects, and services or commissions in which both a client and service providers make shared revenues from the same project or activity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 healthcare system, according to local [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":601851,"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":[72,7115,274,180,2380,69,4175],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-healthcare","tag-house-of-representatives","tag-legislation","tag-speed-round","tag-tax","tag-universal-healthcare-act","wpautop","entry"],"acf":{"mongo_id":"4cba9f5b-8938-4c3c-ac53-8d9b8bdc8d6a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/2\/2118.jpg","photo_position":"above","related_issue":[601845],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt parliament looking to make 0.25% healthcare tithe tax-deductible - 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\/03\/12\/egypt-parliament-looking-to-make-0-25-healthcare-tithe-tax-deductible\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt parliament looking to make 0.25% healthcare tithe tax-deductible\" \/>\n<meta property=\"og:description\" content=\"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. 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Delaying the debate will allow for more input from other\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\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595118,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/17\/egypt-mulls-amending-corporate-healthcare-tithe-to-impose-egp-10k-cap-across-the-board\/","url_meta":{"origin":601850,"position":1},"title":"Egypt mulls amending corporate healthcare tithe to impose EGP 10k cap across the board","author":"enterpriseam admin","date":"17 September 2019","format":false,"excerpt":"EXCLUSIVE- 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 &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\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593952,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/15\/finmin-finalizes-universal-healthcare-tithe\/","url_meta":{"origin":601850,"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 &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\/2019\/7\/Health-care-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","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":601850,"position":3},"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 &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":602364,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/26\/egypts-finmin-to-announce-specifics-of-healthcare-tithe-this-week\/","url_meta":{"origin":601850,"position":4},"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 &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":602973,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/finance-ministry-issues-regulations-of-healthcare-tithe-for-current-tax-season\/","url_meta":{"origin":601850,"position":5},"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 &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\/2020\/1\/773.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601850","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=601850"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601850\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/601845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/601851"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=601850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=601850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=601850"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=601850"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=601850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}