{"id":624476,"date":"2018-09-10T04:16:47","date_gmt":"2018-09-10T04:16:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/10\/social-media-ad-tax-study-to-be-complete-this-month\/"},"modified":"2018-09-10T04:16:47","modified_gmt":"2018-09-10T04:16:47","slug":"social-media-ad-tax-study-to-be-complete-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/10\/social-media-ad-tax-study-to-be-complete-this-month\/","title":{"rendered":"Social media ad tax study to be complete this month"},"content":{"rendered":"

<\/a> **#4 EXCLUSIVE- FinMin to complete study on taxing social media ads this month: <\/strong>The Finance Ministry is set to complete a study on how to tax social media advertising this month, a ministry source told Enterprise. The taxation framework will likely include provisions demanding that ad agencies and social media companies pay a 14% VAT on sales, the source added.<\/p>\n

No new legislation for taxing ads and e-commerce:<\/strong> The source said that it was unlikely that new legislation would be drafted to tax social media ads or e-commerce transactions. Instead, the provisions will be included in amendments to existing legislation, including the VAT Act, a move that should fast-track the changes through the House of Representatives.<\/p>\n

SMEs Act under final review: <\/strong>The ministry is also conducting a final review of the SMEs Act before presenting the final draft to the Madbouly Cabinet, the source added. He reiterated that the law would use the CBE\u2019s definition of SMEs.<\/p>\n

And while we\u2019re on taxes<\/strong>, the Union of Investors Associations is stepping up its lobbying against a real estate tax, with association head Mohamed Farid Khamis now proposing that the real estate tax be scrapped in favor of raising income taxes, according to Youm7<\/a>. We\u2019re not at all certain we understand the logic there.<\/p>\n","protected":false},"excerpt":{"rendered":"

**#4 EXCLUSIVE- FinMin to complete study on taxing social media ads this month: The Finance Ministry is set to complete a study on how to tax social media advertising this month, a ministry source told Enterprise. The taxation framework will likely include provisions demanding that ad agencies and social media companies pay a 14% VAT […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-624476","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"276ae6f6-475b-4519-89dd-7657ef6a161e","order":"0","is_powered_by":true,"section_story_id":"d4808c15-4124-43d1-8bf5-9bdf980e8b8e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[624467],"teaser":"","voice_url":""},"yoast_head":"\nSocial media ad tax study to be complete this month - 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\/2018\/09\/10\/social-media-ad-tax-study-to-be-complete-this-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Social media ad tax study to be complete this month\" \/>\n<meta property=\"og:description\" content=\"**#4 EXCLUSIVE- FinMin to complete study on taxing social media ads this month: The Finance Ministry is set to complete a study on how to tax social media advertising this month, a ministry source told Enterprise. 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The move will require some change to legislation, the story suggests, and comes after we reported\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":622917,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/16\/online-retailers-now-have-to-charge-and-remit-vat\/","url_meta":{"origin":624476,"position":2},"title":"Online retailers now have to charge and remit VAT","author":"enterpriseam admin","date":"16 October 2018","format":false,"excerpt":"** #4 EXCLUSIVE- Online retailers now have to charge and remit VAT: The Finance Ministry has notified e-commerce platforms, including Souq, Jumia, and OLX, that they will be required to begin charging value-added tax (VAT) on all transactions in goods that would be subject to VAT if sold offline, government\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":600194,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/22\/finmin-wants-to-impose-stamp-tax-on-social-media-ads-of-up-to-20\/","url_meta":{"origin":624476,"position":3},"title":"FinMin wants to impose stamp tax on social media ads of up to 20%","author":"enterpriseam admin","date":"22 January 2019","format":false,"excerpt":"EXCLUSIVE- FinMin could impose stamp tax of up to 20% on social media ads: The Finance Ministry appears set to impose a stamp tax on social media and internet search ads and has completed drafting legislation to that effect, a senior ministry source told Enterprise. Companies running ads on social\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\/1\/59.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626666,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/finmin-takes-next-step-in-taxing-e-commerce-social-media-ad-buys\/","url_meta":{"origin":624476,"position":4},"title":"FinMin takes next step in taxing e-commerce, social media ad buys","author":"enterpriseam admin","date":"9 July 2018","format":false,"excerpt":"EXCLUSIVE- FinMin takes next step in taxing online ad buys and e-commerce transactions: A Finance Ministry committee is looking into setting up a tax formula for ads on social media and e-commerce transactions, ministry sources tell Enterprise. The committee looking at Organisation for Economic Co-operation and Development (OECD) best practices\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":628081,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/25\/house-is-shopping-around-legislation-to-tax-social-media-ads\/","url_meta":{"origin":624476,"position":5},"title":"House is shopping around legislation to tax social media ads","author":"enterpriseam admin","date":"25 June 2018","format":false,"excerpt":"LEGISLATION WATCH- House is shopping around legislation to tax social media ads: A draft law to tax Egyptian advertisers for their social media spends apparently exists and is already floating around in the House of Representatives, MPs tell Egypt Independent. 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