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FINANCIAL NEWS
Egypt budget deficit to be reduced by VAT at 1pct
29 Aug 2016
(MENAFN) Implementing the value-added tax (VAT) will collaborate to Lower Egypt budget deficit by 1 percent.
Moreover, the money will go for subsided food commodities, financing the government Takaful and Karama national aimed social safety net program.
On the other hand, the country aims to impose the VAT in order to enhance public revenues and reduce the large and state budget deficits.
The VAT also focuses on imposing taxes on some services and goods that were exempt from sales tax before, involving global and private schools and universities.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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