{"id":610854,"date":"2023-11-28T00:00:00","date_gmt":"2023-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/28\/on-the-new-vat-law-hazem-omars-presidential-promises-and-gaza\/"},"modified":"2023-11-28T00:00:00","modified_gmt":"2023-11-28T00:00:00","slug":"on-the-new-vat-law-hazem-omars-presidential-promises-and-gaza","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/28\/on-the-new-vat-law-hazem-omars-presidential-promises-and-gaza\/","title":{"rendered":"On the new VAT law, Hazem Omar\u2019s presidential promises, and Gaza"},"content":{"rendered":"

No single story caught the attention of last night\u2019s talking heads<\/strong>, who brought us coverage of the recent VAT changes, a one-on-one with one of the presidential candidates, and the extension of a ceasefire in Gaza.<\/p>\n

The new VAT law:<\/strong> Kelma Akhira\u2019s Lamees El Hadidi heard from Egyptian Tax Authority chief Fayez El Daba\u2019ani about the regulatory amendments<\/a> that came into effect last week that require some businesses to settle their VAT dues in FX (watch, runtime: 8:26<\/a>). El Daba\u2019ani clarified that those self-employed will also be subject to the new rules though he didn\u2019t elaborate on how much FX they\u2019re expected to bring in. Importers have been handed an exemption from the rules, as we note above in What We\u2019re Tracking Today. <\/p>\n

Election 2023:<\/strong> El Hekaya\u2019s Amr Adib spoke to presidential hopeful Hazem Omar to unpack his election campaign and thoughts on the country\u2019s economic headwinds (watch, runtime: 11:13<\/a>). Omar put the currency crisis down to Egypt\u2019s high levels of external debt and the lack of economic reform, which he said could happen \u201cwithin three years\u201d with the right expertise. When asked how he would handle the question of the Grand Egyptian Renaissance Dam and Ethiopia\u2019s unilateral action, he said that he will resort to some sort of powerful action in case Ethiopia\u2019s dam filling results in a major dip in the Nile\u2019s water levels.<\/p>\n

Gaza truce extension:<\/strong> After the four-day ceasefire was extended by a further two days last night, El Hadidi spoke with senior Hamas representative Osama Hamdan who blamed the lengthy truce negotiations on Israel (watch, runtime: 2:28<\/a>). The efforts from Egypt and Qatar put pressure on Israel and helped get an agreement across the line, he added. We have the full story in War Watch, above. <\/p>\n","protected":false},"excerpt":{"rendered":"

No single story caught the attention of last night\u2019s talking heads, who brought us coverage of the recent VAT changes, a one-on-one with one of the presidential candidates, and the extension of a ceasefire in Gaza. 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The phase-out of energy subsidies will continue on its gradual trajectory for the next three-five years, El Garhy added, explaining that the most recent hike was necessary to\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":545795,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/12\/last-nights-talk-shows-how-vat-is-levied-on-gold\/","url_meta":{"origin":610854,"position":1},"title":"Last Night\u2019s Talk Shows: How VAT is levied on gold","author":"enterpriseam admin","date":"12 April 2022","format":false,"excerpt":"It was a slow night even by Ramadan standards for the country\u2019s talking heads. New rules signed yesterday between the Federation of Egyptian Chambers of Commerce (the unfortunately-named Fedcoc) and the Tax Authority on how to collect the 14% VAT on platinum, gold, silver and precious stones got an explainer\u2026","rel":"","context":"In "LAST NIGHT\u2019S TALK SHOWS"","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":609574,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/07\/new-vat-on-cigarettes-gets-final-sign-off\/","url_meta":{"origin":610854,"position":2},"title":"New VAT on cigarettes gets final sign off","author":"enterpriseam admin","date":"7 November 2023","format":false,"excerpt":"The new VAT is expected to raise EGP 8 bn","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/331.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562838,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/08\/vat-on-delivery-fees-covid-an-extended-interview-with-mohamed-maait\/","url_meta":{"origin":610854,"position":3},"title":"VAT on delivery fees, covid + an extended interview with Mohamed Maait","author":"enterpriseam admin","date":"8 June 2021","format":false,"excerpt":"Covid once again dominated proceedings on the nation\u2019s talk shows last night: We have coverage on the night\u2019s events in this morning\u2019s Covid Watch, above.The big business-relevant stories of the night: The introduction of VAT on online delivery services got attention. All restaurants and businesses with more than EGP 500k\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":610682,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/26\/get-paid-in-fx-pay-vat-in-fx\/","url_meta":{"origin":610854,"position":4},"title":"Get paid in FX? Pay VAT in FX","author":"enterpriseam admin","date":"26 November 2023","format":false,"excerpt":"Sellers could choose to pay their VAT dues in EGP if they exchanged an equivalent amount or more of FX at a bank","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/11\/1333.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645168,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/13\/lifting-flour-subsidies-and-eastern-tobacco-hiking-cigarette-prices\/","url_meta":{"origin":610854,"position":5},"title":"lifting flour subsidies and Eastern Tobacco hiking cigarette prices","author":"enterpriseam admin","date":"13 July 2017","format":false,"excerpt":"The state\u2019s decision to lift flour subsidies and Eastern Tobacco hiking cigarette prices, topped discussions on the airwaves last night.Yahduth fi Misr\u2019s Sherif Amer was on the Supply Ministry\u2019s decision to halt flour subsidies to bakeries starting next month (we\u2019ve got that covered in this morning\u2019s Speed Round). Ministry spokesperson\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"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\/610854","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=610854"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/610854\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/610840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/610855"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=610854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=610854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=610854"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=610854"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=610854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}