{"id":648799,"date":"2017-04-12T04:12:39","date_gmt":"2017-04-12T04:12:39","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/"},"modified":"2017-04-12T04:12:39","modified_gmt":"2017-04-12T04:12:39","slug":"finance-ministry-reduces-vat-on-imported-capital-goods-to-5","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/","title":{"rendered":"Finance Ministry reduces VAT on imported capital goods to 5%"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>The Finance Ministry has cut the value-added tax <\/strong><strong>on imports of machinery, equipment, and capital goods to 5%, effective immediately<\/strong>, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/releas-a-11-4-17.aspx\">according to a statement from the ministry<\/a>. The tax cut also applies to production lines that are imported either in parts or already assembled. Finance Minister Amr El Garhy says the exceptional rate reduction decision was taken after noticing problems in implementing the VAT law and to support domestic production and national mega projects. El Garhy says measures have been put in place to ensure this rate reduction is used to support expanding production domestically and not as a loophole for tax avoidance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Finance Ministry has cut the value-added tax on imports of machinery, equipment, and capital goods to 5%, effective immediately, according to a statement from the ministry. The tax cut also applies to production lines that are imported either in parts or already assembled. Finance Minister Amr El Garhy says the exceptional rate reduction decision [&hellip;]<\/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-648799","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0b3af5dd-085a-4f28-a0e2-91750005566f","order":"0","is_powered_by":true,"section_story_id":"1c080ff8-cf22-4c42-8999-e37a3e7adb1a","story_type":"1","photo_url":"","photo_position":"above","related_issue":[648789],"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>Finance Ministry reduces VAT on imported capital goods to 5% - 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\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry reduces VAT on imported capital goods to 5%\" \/>\n<meta property=\"og:description\" content=\"The Finance Ministry has cut the value-added tax on imports of machinery, equipment, and capital goods to 5%, effective immediately, according to a statement from the ministry. The tax cut also applies to production lines that are imported either in parts or already assembled. Finance Minister Amr El Garhy says the exceptional rate reduction decision [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-12T04:12:39+00:00\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Finance Ministry reduces VAT on imported capital goods to 5%\",\"datePublished\":\"2017-04-12T04:12:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/\"},\"wordCount\":111,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/04\/12\/finance-ministry-reduces-vat-on-imported-capital-goods-to-5\/\",\"name\":\"Finance Ministry reduces VAT on imported capital goods to 5% - 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The ministry says the executive regulations clarified definitions, including, for example, contentious items like what \u201cprofessional services\u201d entail, and resolved ambiguity on exemptions and processes. 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