EGPC, Tax Authority to Discuss Value Added Tarrifs

EGPC, Tax Authority to Discuss Value Added Tarrifs

Egypt’s Tax Authority Vice President, Mohamed Abd El Satar, stated that the Egyptian General Petroleum Corporation (EGPC) will meet with the Tax Authority in order to discuss applying the Value Added Tariff (VAT) on oil and gas activities, reported Al Mal News.

Abd El Satar added that the Authority’s aim is to determine EGPC’s activities that should be subject to the VAT.

Meanwhile, Apache Petroleum’s management stated, during the seminar held by the tax committee in the French Chamber of Commerce, that applying VAT  for the first on supply services may create troubles.

The seminar’s attendees noted that exploration companies are initially exempted from taxes according to the petroleum agreements, which throws to the possibility that suppliers will bear all the tax payments.

Sarah Samir 2896 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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