- Egypt does not collect VAT in foreign currency on imports
- VAT is deducted in foreign currency for purchases of goods and services paid in hard currency
- The tax collector can receive VAT in Egyptian pounds if it is proven to be equivalent to its value in foreign currency
- The finance ministry issued a decision mandating the collection of VAT in foreign currency for goods and services paid for in foreign currency
- Egypt is facing a severe US dollar liquidity crunch
- The government plans to collect $191 billion through 2026 by expanding its IPO program and introducing incentives for foreign investors
- Egypt’s commitments under a $3 billion loan program with the IMF involve implementing flexible regimes for exchange and interest rates, enhancing the role of the private sector, and accelerating IPOs.
Source: english.ahram.org.eg
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
