{"id":708071,"date":"2026-06-05T00:00:00","date_gmt":"2026-06-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=708071"},"modified":"2026-06-05T07:13:10","modified_gmt":"2026-06-05T07:13:10","slug":"government-set-to-eliminate-vat-exemption-for-natural-gas-for-the-first-time","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/06\/05\/government-set-to-eliminate-vat-exemption-for-natural-gas-for-the-first-time\/","title":{"rendered":"Government set to eliminate VAT exemption for natural gas for the first time"},"content":{"rendered":"

Good morning, folks, and welcome to the weekend.<\/strong> With summer (and Sahel) season just about to kick off, we bring you an all-inclusive guide to everything beach. In today\u2019s issue, we break down all the beach kit must-haves and more.<\/p>\n

Also today: <\/strong>We hit the cinemas to review Backrooms, try out Maadi\u2019s new blues music bar, strategize and vanquish with Command & Conquer, and get author-first insights in Bookmarked. <\/p>\n

But first, your weekly recap\u2026<\/strong><\/p>\n

\ud83d\uddde\ufe0f LAST WEEK IN 3 MINS-<\/p>\n

TAX<\/strong>-<\/strong><\/p>\n

Natural gas is <\/strong>losing its VAT exemption<\/a><\/strong> for the first time<\/strong>, slapping a flat EGP 20\/mcf table tax on the fuel to ease the state\u2019s budget burden. The amendments also extend a VAT suspension on production machinery and medical equipment to four years to stimulate local manufacturing and keep capital from getting locked up in red tape. The draft law will now move to the House for approval.<\/p>\n

InstaPay, Fawry, and a number of other banking and non-banking finance services and investment funds are set to <\/strong>receive VAT exemptions<\/a><\/strong> under the second tax facilitation package. The package is now heading to the House of Representatives for approval.<\/p>\n

M&A WATCH-<\/strong><\/p>\n

Ascom\u2019s board of directors <\/strong>approved a fair value study<\/a><\/strong> to acquire a 90% stake in Raya Holding\u2019s Ostool Transport and Logistics<\/strong>, bringing Qalaa Holdings\u2019 mining arm one step closer to executing the EGP 641 mn buyout.<\/p>\n

REAL ESTATE-<\/strong><\/p>\n

Talaat Moustafa Group\u2019s Iraqi subsidiary <\/strong>secured a license and land<\/a><\/strong> for a USD 10 bn megaproject in Baghdad.<\/strong> Located within Baghdad Financial and Economic City, the 12.8 mn sqm project will house 250k residents across 43k units, launching with a 16-year construction timeline and a 12-year sales window.<\/p>\n

IPO WATCH-<\/strong><\/p>\n

The retail tranche of Korra Energi\u2019s IPO <\/strong>closed 31.35x oversubscribed<\/a><\/strong> before the Eid El Adha break, according to EGX data.<\/strong> Retail buyers placed initial orders for 3.1 bn shares, targeting just 99 mn shares earmarked for the public. Korra\u2019s IPO is the EGX\u2019s second private-sector main-market listing this year, following Gourmet\u2019s blockbuster offering.<\/p>\n

MANUFACTURING-<\/strong><\/p>\n

Chinese equipment manufacturer Sany Group <\/strong>plans to invest<\/a><\/strong> over USD 300 mn to build Egypt\u2019s first wind turbine factory in Suez Canal Economic Zone.<\/strong> The first phase of production will supply an undisclosed 1 GW wind project in the Gulf of Suez.<\/p>\n

The Industrial Development Authority (IDA) is <\/strong>asking parliament for EGP 21 bn<\/a><\/strong> over the next three years to complete infrastructure across 17 industrial zones. <\/strong>The request comes weeks after five new zones were transferred to the IDA\u2019s jurisdiction, deepening pressure on the government to expand the supply of investment-ready land.<\/p>\n

ECONOMY-<\/strong><\/p>\n

The EGX30 <\/strong>added 1.73% in May<\/a><\/strong> to close the month at roughly 52.7k points<\/strong> \u2014 a far cry from April\u2019s 14.2% surge but still a solid showing since the month was shortened by four trading sessions for Eid El Adha. Total market cap climbed 2.48% to EGP 3.76 tn.<\/p>\n

Egyptian firms reported real annual <\/strong>sales contraction of 11.4%<\/a><\/strong> in the World Bank\u2019s latest Enterprise Survey<\/strong>, lagging behind the wider MENA region\u2019s 5.2% growth. Behind this headline slump is a set of operating-environment findings suggesting that Egypt\u2019s three-year macro stabilization push has not yet filtered down to the day-to-day constraints firms identify as their biggest obstacles to growth.<\/p>\n

INVESTMENT WATCH-<\/strong><\/p>\n

Egypt\u2019s gross domestic savings rate <\/strong>collapsed to 1.2% of GDP<\/a><\/strong> in FY 2024\/25<\/strong>, down from 6.1% the previous fiscal year \u2014 a 75% drop in a single year. This puts Egypt\u2019s savings rate at a fraction of what high-growth emerging markets typically need to fund investment-led growth.<\/p>\n

Our investment fund industry became an <\/strong>EGP 411 bn parallel route for household savings<\/a><\/strong> by end-1Q 2026, up 30% in a single quarter.<\/strong> The shift isn\u2019t replacing the deposit base but rather opening a regulated, lower-ticket channel for households to gain exposure to the very asset classes they\u2019ve long preferred.<\/p>\n

ENERGY-<\/strong><\/p>\n

Egypt\u2019s <\/strong>energy challenge<\/a><\/strong> is characterized by a widening gap between declining production and rising demand<\/strong>, but the government is working to stabilize the sector. The Oil Ministry is making good on its debts to international oil companies, announcing last week that it will fully settle these arrears by 10 June, ahead of its original end-of-June target.<\/p>\n

CAPITAL MARKETS-<\/strong><\/p>\n

Egyptian equities could <\/strong>lose their emerging market label<\/a><\/strong> in one of the world's most widely followed equity index families.<\/strong> S&P Dow Jones Indices launched a consultation on demoting Egypt to frontier market status, citing lingering concerns around market accessibility, capital mobility, and broader institutional stability.<\/p>\n

\n

\ud83c\udf0d AROUND THE WORLD IN SEVEN DAYS- <\/p>\n

<\/p>\n

It\u2019s been a mixed bag in the news cycle this week. Here\u2019s the rundown. <\/strong><\/p>\n

The US-Iran diplomatic stalemate persisted, despite both sides spending last weekend <\/strong>exchanging revisions<\/a><\/strong> to a draft pact that would keep the ceasefire in place.<\/strong> The two countries dominated headlines after exchanging military strikes<\/a> on Monday. The US Central Command launched \u201cself-defense strikes\u201d over the weekend in response to \u201caggressive Iranian actions,\u201d which included targeting a US drone over international waters. Iran retaliated by striking an air base hosting US forces. <\/p>\n

On Wednesday, th<\/strong>e war saw <\/strong>serious escalations<\/a><\/strong> as US forces intercepted Iranian ballistic missiles and drones aimed at US bases in Bahrain and Kuwait. The US then conducted \u201cself-defense\u201d strikes on Qeshm Island in the Strait of Hormuz.<\/p>\n

On Thursday, the <\/strong>US House <\/strong>approved<\/a><\/strong> a war powers resolution to curb military action against Iran<\/strong>, marking the first Capitol Hill-backed congressional challenge to US President Donald Trump since the conflict began.<\/p>\n

Flights at Kuwait\u2019s international airport were <\/strong>suspended<\/a><\/strong> on Wednesday after an Iranian drone strike hit the airport<\/strong>, injuring at least 63 people, according to the country\u2019s Health Ministry. The strikes caused heavy damage to one of the airport\u2019s passenger terminals.<\/p>\n

CLOSER TO HOME-<\/strong> Attacks in Lebanon escalated on Monday as Israeli Prime Minister Benjamin Netanyahu ordered attacks<\/a> on the southern suburbs of Lebanon\u2019s capital Beirut, where tensions with \u201cterrorist targets\u201d in the Hezbollah-controlled Dahiyeh persisted. Hezbollah responded with rocket fire into northern Israel. On Tuesday, Israeli drone strikes killed eight people<\/a> just a day after Trump announced that Israel and Hezbollah had agreed to ease hostilities. <\/p>\n

Israel maintains military action in Lebanon:<\/strong> Netanyahu\u2019s orders came on the heels of Hezbollah\u2019s \u201crepeated violations\u201d of a ceasefire that was announced in April and attacks on \u201cIsraeli cities and civilians.\u201d Israeli Defense Minister Israel Katz stated that Israel would continue<\/a> carrying out strikes in Lebanon and would not withdraw from the country\u2019s south for the time being.<\/p>\n

IN OTHER NEWS-<\/strong> On Tuesday, Russia unleashed a sweeping overnight assault<\/a> on Kyiv and other cities \u2014 one of its largest aerial attacks on Ukraine in recent months \u2014 leaving at least 18 people dead and more than 100 wounded. According to Ukraine\u2019s military, the attack involved over 600 drones and dozens of missiles, including advanced hypersonic weapons. The Health Ministry reported five medical facilities damaged or destroyed.<\/p>\n

ALSO-<\/strong> The Trump administration proposed new tariffs<\/a> of up to 12.5% on imports from 60 economies following an investigation into goods allegedly produced by forced labor. The sweeping tariff package aims to revive Trump\u2019s emergency tariffs, struck down earlier this year by the Supreme Court. Major trading partners like China, the EU, Japan, India, Canada, and others would be affected by the levy.<\/p>\n

AND-<\/strong> The UN General Assembly elected<\/a> its next head. Bangladeshi Foreign Minister Khalilur Rahman narrowly defeated Cyprus\u2019s Andreas Kakouris to secure the presidency of the UN General Assembly.<\/p>\n

IN BUSINESS NEWS- <\/strong>Berkshire Hathaway made a USD 6.8 bn housing play, agreeing to acquire<\/a> US homebuilder Taylor Morrison \u2014 the first multi-bn-USD acquisition under the helm of newly minted CEO Greg Abel. Alphabet will sell USD 80 bn<\/a> worth of stock to fund investments in computing infrastructure to meet customer demand for AI products. The company intends to source the funds via underwritten offerings, a USD 10 bn investment from Berkshire Hathaway, and selling Class A and Class C shares.<\/p>\n

IN THE TECH WORLD-<\/strong> Dell premiered<\/a> the XPS 13, its new low-cost offering, with prices starting at USD 699. It is expected to butt heads with Apple\u2019s MacBook Neo, another laptop marketed for its affordability. Nvidia unveiled<\/a> a new chip designed to run AI agents on personal laptops and desktop computers. CEO Jensen Huang said the RTX Spark PC chip is part of a broader effort with Microsoft to \u201creinvent the PC\u201d for the AI computing era.<\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n

\u2600\ufe0f THE WEATHER THIS WEEKEND- <\/p>\n

The hot weather continues this weekend.<\/strong> Today brings warm weather and hazy sunshine as temperatures peak at 36\u00b0C before settling at a breezy 26\u00b0C by nightfall. Tomorrow brings even hotter conditions, with a high of 39\u00b0C and a low of 23\u00b0C. Along the North Coast, expect slightly milder temperatures today and tomorrow with a high of 31\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p>\n

\n

\ud83c\udfa4 HAPPENING THIS WEEKEND-<\/p>\n

Renowned Italian maestro Andrea Bocelli is <\/strong>landing in Egypt<\/a><\/strong> as part of <\/strong>his Romanza World Tour tonight <\/strong>at the City of Arts and Culture in the New Capital. You can book your tickets through Ticketsmarch\u00e9<\/a>.<\/p>\n

Still riding that <\/strong>Eid<\/strong> high? Ramy Sabry takes the stage at Tanza <\/strong>in <\/strong>Sixth of October City<\/strong> tonight <\/strong>for a high-energy, high-production live performance<\/a> of his biggest hits. The concert kicks off at 8pm \u2014 tickets are selling fast, so secure yours through Ticketsmarch\u00e9<\/a> while they last.<\/p>\n

Ali El Haggar shows no signs of slowing down. The veteran singer returns to the Cairo Opera House in Zamalek<\/strong> tonight<\/strong> for 100 Years of Singing to honor the late music icon and composer Ammar El Sherei. Expect a nostalgic evening<\/a> of orchestral arrangements and timeless songs. The concert begins at 7:30pm \u2014 tickets are available on Tazkarti<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, folks, and welcome to the weekend. With summer (and Sahel) season just about to kick off, we bring you an all-inclusive guide to everything beach. In today\u2019s issue, we break down all the beach kit must-haves and more. Also today: We hit the cinemas to review Backrooms, try out Maadi\u2019s new blues music […]<\/p>\n","protected":false},"author":1,"featured_media":708072,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7287],"tags":[279,6653,91,69,6654],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-708071","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-week-in-review","tag-budget-watch","tag-enterprise-weekend","tag-oil-and-gas","tag-tax","tag-the-week-in-review","wpautop","entry"],"acf":{"mongo_id":"f723b64e-4ab5-4ae2-9e36-506509aefa30","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/4\/1127.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Natural gas is no longer VAT exempt","related_issue":[708069],"teaser":""},"yoast_head":"\nGovernment set to eliminate VAT exemption for natural gas for the first time - 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\/2026\/06\/05\/government-set-to-eliminate-vat-exemption-for-natural-gas-for-the-first-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government set to eliminate VAT exemption for natural gas for the first time\" \/>\n<meta property=\"og:description\" content=\"Good morning, folks, and welcome to the weekend. 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Comparing\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":667562,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/06\/29\/israel-ramps-up-natural-gas-exports-to-egypt\/","url_meta":{"origin":708071,"position":1},"title":"Israel ramps up natural gas exports to Egypt","author":"enterpriseam admin","date":"29 June 2025","format":false,"excerpt":"Good afternoon, friends, and welcome to the start of another workweek. We hope you enjoyed your long weekend, and we\u2019d like to remind you that we have another one coming right up. THE BIG STORY TODAY Israeli natural gas exports to Egypt have ramped to 650-750 mn cubic feet per\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2194.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":667812,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/03\/house-passes-old-rent-act-amendments-in-final-vote\/","url_meta":{"origin":708071,"position":2},"title":"House passes Old Rent Act amendments in final vote","author":"enterpriseam admin","date":"3 July 2025","format":false,"excerpt":"Good morning, friends, and happy weekend. We\u2019ve got an extra day at our disposal this weekend, and we\u2019d suggest using it wisely \u2014 P.S. Staying in and getting some rest is a wise choice as well. If you find yourself heading up north, however, we have a few suggestions on\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/196.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672142,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/19\/imf-mission-arrives-1-october-for-egypts-fifth-sixth-review\/","url_meta":{"origin":708071,"position":3},"title":"IMF mission arrives 1 October for Egypt's fifth, sixth review","author":"enterpriseam admin","date":"19 September 2025","format":false,"excerpt":"Good morning, friends, and welcome to the weekend. We hope the cooler weather encourages us to venture outside and bask in the warm September sun before we prepare for a new week.In this week\u2019s edition of The Enterprise Guide, we\u2019re listing down our favorite gardens and green areas in Greater\u2026","rel":"","context":"In "THE WEEK IN REVIEW"","block_context":{"text":"THE WEEK IN REVIEW","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-week-in-review\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/121.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659322,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/26\/egypt-could-sign-agreements-to-liquefy-cypriot-gas-as-early-as-next-month\/","url_meta":{"origin":708071,"position":4},"title":"Egypt could sign agreements to liquefy Cypriot gas as early as next month","author":"enterpriseam admin","date":"26 January 2025","format":false,"excerpt":"Good morning, folks, and welcome to the last week of January. It\u2019s already been a pretty busy week for local business news, but it can always get busier \u2014 so let's jump in and see what the week brings.PSA-WEATHER- It\u2019s another overcast day in Cairo today, with a high of\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/170.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619537,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/03\/capital-gains-tax-on-egx-transactions-postponed-to-next-year\/","url_meta":{"origin":708071,"position":5},"title":"Capital gains tax on EGX transactions postponed to next year","author":"enterpriseam admin","date":"3 May 2024","format":false,"excerpt":"Good morning folks, and happy Friday. We hope you enjoy the longer weekend and have a festive Easter.A great way to welcome this warm Easter is by embracing a new scent. Wait, we know what you\u2019re thinking: In this economy? And to that, we answer an unwavering \u201cyes\u201d. 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