{"id":603089,"date":"2019-04-15T03:58:21","date_gmt":"2019-04-15T03:58:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/"},"modified":"2019-04-15T03:58:21","modified_gmt":"2019-04-15T03:58:21","slug":"finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/","title":{"rendered":"FinMin decides to raise stamp tax on mobile phone bills to EGP 12"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-06\"><\/a><b> EXCLUSIVE- FinMin committee examines stamp tax overhaul: <\/b>A Finance Ministry committee is looking would could be a \u201clarge number\u201d of amendments to the outdated Stamp Tax Act, with one likely change involving doubling the annual stamp tax on pre-paid mobile phone lines to EGP 12, a senior government official tells Enterprise. The ministry has been mulling whether to hike the stamp tax to as much as EGP 24 per year and is looking at the overall impact of the change. It would then hand the proposed amendments to cabinet for review. <b>The changes could impact all stamp taxes except for the one on advertising<\/b>, which includes a 15% stamp tax on traditional ads placed by individuals and a 20% rate on ads bought by companies. We noted earlier this year that the ministry is looking to impose the 20% stamp tax on <a href=\"https:\/\/enterprise.press\/stories\/2019\/01\/22\/finmin-wants-to-impose-stamp-tax-on-social-media-ads-of-up-to-20-2\/\">social media and online ads<\/a>.<\/p>\n<p><b>No decision yet on scrapping separate EGP 50 levy: <\/b>A senior official told us last year that the ministry is considering cancelling a separate EGP 50 levy on new mobile phones. The levy <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/06\/house-passes-fy2018-19-budget\/\">was introduced<\/a> at the start of the fiscal year but was blamed for weighing down mobile network operators\u2019 (MNOs) sales without a substantial return to the state coffers. The ministry <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/04\/finmin-mnos-reach-preliminary-agreement-to-scrap-egp-50-fee-on-mobile-phone-lines\/\">eventually reached<\/a> a preliminary agreement with the MNOs to do away with it. Doubling the stamp tax was believed to be one of two considerations to make up for scrapping it, with another being introducing a completely new service fee. The ministry has still not taken a final decision on cancelling the levy, but will proceed with the stamp tax hike regardless.<\/p>\n<p><b>Mobile subscriptions in Egypt are falling: <\/b>This all comes amid a drop in the number of mobile subscribers. The figure stood at 93.78 mn by <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/10\/mobile-subscriptions-down-7-6mn-in-the-last-quarter-of-2018-3\/\">Q42018-end<\/a>, falling to 93.48 mn users <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/14\/mobile-subscriptions-in-egypt-continue-to-fall-reaching-93-48-mn-in-january\/\">in January<\/a>. This is a 7.8% y-o-y decline from 101.32 mn in January 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EXCLUSIVE- FinMin committee examines stamp tax overhaul: A Finance Ministry committee is looking would could be a \u201clarge number\u201d of amendments to the outdated Stamp Tax Act, with one likely change involving doubling the annual stamp tax on pre-paid mobile phone lines to EGP 12, a senior government official tells Enterprise. The ministry has been [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603090,"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":[72,7087,1318,180,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-finance","tag-fiscal-policy","tag-legislation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e3eee6ec-861a-47cf-8937-c9dcf0e97857","is_powered_by":true,"section_story_id":"94e8e5a6-b23c-4ee8-9d0f-006726cc6f62","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/773.jpg","photo_position":"above","related_issue":[603076],"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>FinMin decides to raise stamp tax on mobile phone bills to EGP 12 - 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\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FinMin decides to raise stamp tax on mobile phone bills to EGP 12\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- FinMin committee examines stamp tax overhaul: A Finance Ministry committee is looking would could be a \u201clarge number\u201d of amendments to the outdated Stamp Tax Act, with one likely change involving doubling the annual stamp tax on pre-paid mobile phone lines to EGP 12, a senior government official tells Enterprise. The ministry has been [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-15T03:58:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"FinMin decides to raise stamp tax on mobile phone bills to EGP 12\",\"datePublished\":\"2019-04-15T03:58:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/\"},\"wordCount\":318,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/773.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Finance\",\"fiscal policy\",\"legislation\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/15\/finmin-decides-to-raise-stamp-tax-on-mobile-phone-bills-to-egp-12\/\",\"name\":\"FinMin decides to raise stamp tax on mobile phone bills to EGP 12 - 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Companies running ads on social\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\/1\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621957,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/22\/govt-looks-to-raise-stamp-tax-on-phone-lines\/","url_meta":{"origin":603089,"position":1},"title":"Gov\u2019t looks to raise stamp tax on phone lines","author":"enterpriseam admin","date":"22 November 2018","format":false,"excerpt":"EXCLUSIVE- Gov\u2019t looks to raise stamp tax on phone lines: The Finance Ministry could raise the stamp tax on phone lines through legislative amendments now on the drafting table, a ministry source told Enterprise. Mobile network customers currently pay EGP 6 a year in stamp tax dues for their credit\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":594820,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/egypt-mulls-raising-stamp-tax-fees-on-everything-under-the-sun\/","url_meta":{"origin":603089,"position":2},"title":"Egypt mulls raising stamp tax fees on everything under the sun","author":"enterpriseam admin","date":"9 September 2019","format":false,"excerpt":"EXCLUSIVE- FinMin mulls raising fees on electricity consumption, car licenses, bank transactions, and a whole lot else under Stamp Tax Act amendments: A Finance Ministry committee mandated with drafting amendments to the outdated Stamp Tax Act is proposing introducing changes to the stamp tax imposed on electricity consumption and licensing\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":597904,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/08\/finmin-calls-off-egx-stamp-tax-increase\/","url_meta":{"origin":603089,"position":3},"title":"FinMin calls off EGX stamp tax increase","author":"enterpriseam admin","date":"8 May 2019","format":false,"excerpt":"FinMin calls off EGX stamp tax increase: The Finance Ministry will not increase the stamp tax on EGX transactions this year. The move is meant to ease the financial burden on traders, according to a ministry statement. The tax was scheduled to increase to 0.175% from 0.15% on 1 June.\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":602672,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/03\/finmin-looks-to-tax-the-living-daylights-out-of-social-media-ads-e-commerce-players\/","url_meta":{"origin":603089,"position":4},"title":"FinMin looks to tax the living daylights out of social media ads, e-commerce players","author":"enterpriseam admin","date":"3 April 2019","format":false,"excerpt":"EXCLUSIVE- FinMin looks to tax the living daylights out of social media ads, e-commerce players: The Finance Ministry is moving ahead with plans to impose a mix of VAT, income, stamp, and development taxes on social media and e-commerce platforms and internet search ads, a senior government official told Enterprise.\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\/2\/2118.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601703,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/egyptian-capital-markets-association-requests-cancellation-of-stamp-tax\/","url_meta":{"origin":603089,"position":5},"title":"Egyptian Capital Markets Association requests cancellation of stamp tax","author":"enterpriseam admin","date":"7 March 2019","format":false,"excerpt":"ECMA wants to scrap (or at least amend) the stamp tax: The Egyptian Capital Markets Association (ECMA) has submitted a request to the Finance Ministry to cancel the stamp tax, saying the levy imposes an extra burden on stocks traders and generates unsatisfactory tax revenue, ECMA head Mohamed Maher tells\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603089","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=603089"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603089\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603076"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603090"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603089"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603089"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}