{"id":652014,"date":"2017-02-27T04:19:45","date_gmt":"2017-02-27T04:19:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/27\/finance-ministry-will-not-amend-vat-law-to-issue-executive-regulations-in-one-or-two-weeks\/"},"modified":"2017-02-27T04:19:45","modified_gmt":"2017-02-27T04:19:45","slug":"finance-ministry-will-not-amend-vat-law-to-issue-executive-regulations-in-one-or-two-weeks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/27\/finance-ministry-will-not-amend-vat-law-to-issue-executive-regulations-in-one-or-two-weeks\/","title":{"rendered":"Finance Ministry will not amend VAT law, to issue executive regulations in one or two weeks"},"content":{"rendered":"

<\/a> Finance Ministry won\u2019t amend VAT act: <\/strong>The Finance Ministry will not be revising the law for the value-added tax and we can expect the executive regulations \u201cwithin a week or two at most,\u201d high-ranking officials tell Al Borsa<\/a>. The ministry plans to study Maglis Al Dowla\u2019s (State Council) proposed amendments to the executive regulations and \u201cnotify the authority with its thoughts on some of the remarks,\u201d according to Abdel Moneim Mattar<\/a>, the former head of the Tax Authority who is now (as special commissioner) El Garhy\u2019s point man on implementation of the VAT. Maglis Al Dowla had suggested 30 amendments to the regulations on Saturday<\/a>, including some that the domestic press suggested could require revisions to the VAT Act. Council officials argued that provisions in the draft VAT regulations have no foundation in the act, including: The repricing of contracts that are subject to the VAT, but which had been signed prior to its issuance; tax-free shopping for foreigners; and the automatic registration of companies in the VAT system.<\/p>\n","protected":false},"excerpt":{"rendered":"

Finance Ministry won\u2019t amend VAT act: The Finance Ministry will not be revising the law for the value-added tax and we can expect the executive regulations \u201cwithin a week or two at most,\u201d high-ranking officials tell Al Borsa. The ministry plans to study Maglis Al Dowla\u2019s (State Council) proposed amendments to the executive regulations and […]<\/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-652014","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"40c5b310-9b9d-4cdc-bddc-d11b6ce171e0","order":"0","is_powered_by":true,"section_story_id":"d14df9b4-60cf-4867-9efc-d172fa726744","story_type":"1","photo_url":"","photo_position":"above","related_issue":[652005],"teaser":"","voice_url":""},"yoast_head":"\nFinance Ministry will not amend VAT law, to issue executive regulations in one or two weeks - 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\/02\/27\/finance-ministry-will-not-amend-vat-law-to-issue-executive-regulations-in-one-or-two-weeks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Finance Ministry will not amend VAT law, to issue executive regulations in one or two weeks\" \/>\n<meta property=\"og:description\" content=\"Finance Ministry won\u2019t amend VAT act: The Finance Ministry will not be revising the law for the value-added tax and we can expect the executive regulations \u201cwithin a week or two at most,\u201d high-ranking officials tell Al Borsa. 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The executive regulations governing the value-added tax (VAT) may not be handed down as fast as Deputy Finance Minister Amr El Monayer had hoped: Maglis Al Dowla (the State Council) has concluded its review and says it has 30\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":651015,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/02\/finance-ministry-finishes-vat-executive-regulations\/","url_meta":{"origin":652014,"position":1},"title":"Finance Ministry finishes VAT executive regulations","author":"enterpriseam admin","date":"2 February 2017","format":false,"excerpt":"The Finance Ministry has finished drafting the long-awaited executive regulations for the value-added tax and a draft of the document is with the State Council (Maglis El Dowla) for review, Deputy Finance Minister Amr El Monayer told DMC. 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El Garhy had told President Abdel Fattah El Sisi in a Tuesday meeting that the regulations would be official \u201cin\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":570881,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/21\/vat-fast-track-refunds-published-in-egypts-government-gazette\/","url_meta":{"origin":652014,"position":3},"title":"VAT fast-track refunds published in Egypt\u2019s government gazette","author":"enterpriseam admin","date":"21 April 2020","format":false,"excerpt":"REGULATION WATCH- Fast-track VAT drawbacks are now officially a thing: The Official Gazette published earlier this month a decree (pdf) by Finance Minister Mohamed Maait to allow companies to claim 65% of their VAT drawbacks before an assessment on the tax return is made. Companies seeking drawbacks will need to\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":592782,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/cabinet-econ-group-greenlights-fast-track-vat-refunds\/","url_meta":{"origin":652014,"position":4},"title":"Cabinet econ group greenlights fast-track VAT refunds","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"LEGISLATION WATCH- Cabinet econ group greenlights fast-track VAT refunds: Amendments to the executive regulations of the VAT Tax Act proposed by the Finance Ministry and approved in a cabinet economic group meeting yesterday would allow VAT taxpayers to provide authorities bank guarantees that would pay out refunds before an assessment\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":573302,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/28\/real-estate-developers-oppose-vat-on-non-residential-properties\/","url_meta":{"origin":652014,"position":5},"title":"Real estate developers oppose VAT on non-residential properties","author":"enterpriseam admin","date":"28 July 2020","format":false,"excerpt":"LEGISLATION WATCH- Real estate developers oppose VAT on non-residential properties: Real estate developers have pushed back on proposed legislative amendments that would impose a 14% value-added tax (VAT) on the sale and rental of non-residential properties, the local press reports. 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