{"id":650101,"date":"2017-03-16T04:05:06","date_gmt":"2017-03-16T04:05:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/"},"modified":"2017-03-16T04:05:06","modified_gmt":"2017-03-16T04:05:06","slug":"vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/","title":{"rendered":"VAT expected to bring in EGP 190-200 bn next fiscal year"},"content":{"rendered":"

The value-added tax (VAT) is forecast to bring in revenues of EGP 190-200 bn during <\/strong>FY2017-18,<\/strong> the Finance Ministry VAT commissioner Abdel Moneim Mattar said at the Egypt Builders Conference yesterday, according to an emailed statement. According to Mattar, revenues from the tax \u2014 which is currently set at 13% and is due to rise to 14% in July with the start of the new fiscal year \u2014 are expected to reach EGP 170 bn by the end of the current fiscal year. The revenues from the 1 percentage point bump will be directed towards subsidies, he said.<\/p>\n

The Finance Ministry will issue six directives on how the VAT is to be collected<\/strong>, Deputy Finance Minister Amr El Monayer told Al Mal<\/a>. The instructions are expected in the coming days, he said. The ministry already issued this week<\/a> a directive exempting some local restaurants from VAT. Mattar says the instructions will focus on how the VAT will be collected in specific sectors, including automotive manufacturing, contracting and jewelers. He added that the Tax Authority will sign cooperation protocols with professional service providers that could include exempting small-scale service providers for VAT.<\/p>\n","protected":false},"excerpt":{"rendered":"

The value-added tax (VAT) is forecast to bring in revenues of EGP 190-200 bn during FY2017-18, the Finance Ministry VAT commissioner Abdel Moneim Mattar said at the Egypt Builders Conference yesterday, according to an emailed statement. According to Mattar, revenues from the tax \u2014 which is currently set at 13% and is due to rise […]<\/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-650101","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3fd4fb04-54c0-4912-8cfd-822a2011a757","order":"0","is_powered_by":true,"section_story_id":"a8ae28c1-98d8-4f8f-b283-4c228bbc614c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[650088],"teaser":"","voice_url":""},"yoast_head":"\nVAT expected to bring in EGP 190-200 bn next fiscal year - 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\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VAT expected to bring in EGP 190-200 bn next fiscal year\" \/>\n<meta property=\"og:description\" content=\"The value-added tax (VAT) is forecast to bring in revenues of EGP 190-200 bn during FY2017-18, the Finance Ministry VAT commissioner Abdel Moneim Mattar said at the Egypt Builders Conference yesterday, according to an emailed statement. According to Mattar, revenues from the tax \u2014 which is currently set at 13% and is due to rise […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-16T04:05:06+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\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"VAT expected to bring in EGP 190-200 bn next fiscal year\",\"datePublished\":\"2017-03-16T04:05:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/\"},\"wordCount\":197,\"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\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/03\/16\/vat-expected-to-bring-in-egp-190-200-bn-next-fiscal-year\/\",\"name\":\"VAT expected to bring in EGP 190-200 bn next fiscal year - 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This would mark a 13.7% increase from the EGP 856.6 bn the ministry expects to collect during the current fiscal\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":650661,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/29\/vat-revenues-to-rise-by-egp-7-8-bn-with-rate-increase-el-monayer\/","url_meta":{"origin":650101,"position":1},"title":"VAT revenues to rise by EGP 7-8 bn with rate increase -El Monayer","author":"enterpriseam admin","date":"29 March 2017","format":false,"excerpt":"Raising the value-added (VAT) rate to 14% from 13% in FY 2017-18 should bring in an extra EGP 7-8 bn in revenues, Deputy Finance Minister Amr El Monayer told Reuters. 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