{"id":602973,"date":"2019-04-11T04:10:59","date_gmt":"2019-04-11T04:10:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/finance-ministry-issues-regulations-of-healthcare-tithe-for-current-tax-season\/"},"modified":"2019-04-11T04:10:59","modified_gmt":"2019-04-11T04:10:59","slug":"finance-ministry-issues-regulations-of-healthcare-tithe-for-current-tax-season","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/11\/finance-ministry-issues-regulations-of-healthcare-tithe-for-current-tax-season\/","title":{"rendered":"Finance Ministry issues regulations of healthcare tithe for current tax season"},"content":{"rendered":"

<\/a> 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: <\/b>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 year, according to a copy of a Tax Authority\u2019s regulatory booklet seen by Enterprise. The tithe being collected this year will apply to revenues earned between 12 July and 31 December 2018.<\/p>\n

The tax will not be charged on individual company subsidiaries<\/b> or those with a special legal system. Temporary insurance and down payments will also not be considered as part of revenues unless the payment ends up in a company\u2019s top line.<\/p>\n

How will outliers be taxed?<\/b> Insurers, hotels and commission-based businesses asked for the ministry to grant them special status and relax their obligations under the act. These requests by and large appear not have been met. Insurance companies will be taxed like all other businesses, despite their best lobbying efforts to receive partial exemptions. Hoteliers, too, will see the tithe applied to their total revenue. Commission-based businesses, though, will be taxed only on their income from commissions rather than on their total turnover \u2014 a measure that frankly makes sense.<\/p>\n

Background: <\/b>The state\u2019s EGP 600 bn health insurance plan will be rolled out incrementally over the course of 11-13 years, but the ministry is expected to start collecting taxes (including the 0.25% tithe) to fund the scheme this fiscal year. Tax Authority head Abdel Azim Husseintold us earlier this week<\/a> that the Finance Ministry was working on an amendment to the Universal Healthcare Act to be introduced in the future. He declined to say whether the ministry will take businesses\u2019 views into account and collect the levy from net profits.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 year, according to a copy […]<\/p>\n","protected":false},"author":1,"featured_media":602974,"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":[72,7115,2380,69,4175],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-602973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-healthcare","tag-speed-round","tag-tax","tag-universal-healthcare-act","wpautop","entry"],"acf":{"mongo_id":"3187536d-44d2-475c-8134-2b2ecd1e2c1d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/773.jpg","photo_position":"above","related_issue":[602968],"teaser":"","voice_url":""},"yoast_head":"\nFinance Ministry issues regulations of healthcare tithe for current tax season - 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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":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":602973,"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 "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":602824,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/08\/egypts-healthcare-tithe-this-year-will-definitely-be-on-topline\/","url_meta":{"origin":602973,"position":2},"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":597864,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/07\/finmin-studies-setting-a-ceiling-on-egypts-healthcare-tithe-next-year\/","url_meta":{"origin":602973,"position":3},"title":"FinMin studies setting a ceiling on Egypt\u2019s healthcare tithe next year","author":"enterpriseam admin","date":"7 May 2019","format":false,"excerpt":"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\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\/2\/118.jpg?fit=%2C&ssl=1&resize=350%2C200","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":602973,"position":4},"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":593952,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/15\/finmin-finalizes-universal-healthcare-tithe\/","url_meta":{"origin":602973,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602973","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=602973"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/602973\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/602968"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/602974"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=602973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=602973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=602973"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=602973"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=602973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}