Over the past few years, there have been several changes made to the laws in Egypt that have aimed to reshape the tax system. This is important in light of the vital changes that have been witnessed in the field of taxation on a global level due to the dramatic, yet persistent fluctuations, in the world economy.
Between 2011 and 2016 Egypt faced continuous political and economic changes. It grabbed the globe’s attention due to its strategic geographical location and its influential role in the Middle East. The year 2017 was a turning point for the economy, fuelled by a decisive reform agenda. Efforts to jump-start the economy were three-pronged,...
In conjunction with PwC, this chapter contains an introduction to Egypt’s taxation system, including a breakdown of rates imposed on corporate income, regulations governing capital gains and double taxation, and a list of goods and services exempted from value-added tax.
This chapter contains a viewpoint from Maged Ezzeldeen, Country Senior Partner, PwC.
As Egypt enters 2018, a newly liberalised local currency and the recent implementation of a much-anticipated investment framework have left the country well positioned for continued economic expansion: the IMF expects GDP growth to reach 4.5% in 2018 and accelerate to around 6% over the medium term.
Are companies ready to comply with tax reforms? How much more costly may compliance become?
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