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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
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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