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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
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
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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