Egypt's ETA dismisses VAT hike claims, reaffirms food exemptions
The Egyptian Tax Authority (ETA) has reaffirmed its commitment to a stable and predictable tax policy, underscoring efforts to attract investment, drive economic growth, and protect low-income and vulnerable segments of society.
In an official statement issued on Tuesday, the Authority denied recent media reports suggesting plans to raise the general value-added tax (VAT) rate or revoke existing exemptions on essential food items. It stressed that no changes are planned for these critical goods, which are central to citizens' daily needs.
The ETA also highlighted ongoing initiatives to build trust with the business community, including the implementation of tax facilitation measures designed to enhance transparency, simplify procedures, and encourage formal economic participation.
Reiterating its support for national economic priorities, the Authority emphasized the importance of sustainable development and a robust social safety net. It confirmed that there are no current plans to increase income tax or the general VAT rate.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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