After a vote in parliament in late August, the Egyptian government have approved and imposed a new tax regime that will see VAT introduced at 13- as of 9th September 2016 in place of the previous General Sales Tax (GST) system. However it is expected that this VAT rate is set to increase to 14- in 2017. This means that VAT must be accounted for on all relevant goods and services supplied in Egypt from this date however due to the speed with which VAT has been introduced, the Egyptian tax authorities have confirmed that as of 9th September a three-month transition period will apply to all businesses making supplies in Egypt. Consequently, only after this transitional period has ended will non-compliant businesses be penalised.If you or your clients makes supplies in another country, be it within or outside the EU, please speak to one of our experienced VAT consultants on our free VAT helpline regarding potential VAT requirements that may apply to your business.
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