VAT | Egypt Oil & Gas

Finance Ministry Announces Petroleum Services Subject to VAT

Egypt’s Ministry of Finance has announced a list of 20 products and services related to oil and gas exploration and production (E&P) and export activities to be subject to the value added tariff (VAT) as they will ...

VAT Revenues from Oil Sector Rose 520%

Value-added-tax (VAT) revenue from the oil sector grew at a faster pace than from other economic sectors during fiscal year (FY) 2016/2017.

E&P Activities to be Exempted from VAT

The Egyptian Ministry of Finance is preparing a list of oil and gas exploration-and-production (E&P) activities to be exempted from the value-added tax (VAT).

Tax Authority to Discuss VAT on IOCs

The Egyptian Tax Authority is in talks over applying VAT on IOCs in Egypt.

EGPC, Tax Authority to Discuss Value Added Tarrifs

The Egyptian General Petroleum Corporation (EGPC) will meet with the Egyptian Tax Authority in order to discuss applying the Value Added Tariff (VAT) on petroleum activities.

Egypt Saw 10% Rise in Fossil Fuel Usage

An official of the Egyptian Ministry of Petroleum said that the ministry has detected 10% increase in local usage of fossil fuel across all the governorates.

Egypt’s Cabinet Confirmed Fuel Exempted from VAT

The cabinet confirmed that Egypt’s petroleum based products are to be exempted from the value-added tax (VAT), which is yet to be presented to the parliament.

Egypt Unveils Economic Plan to Secure Foreign Funds

Egypt unveiled a long-awaited economic program in a bid to secure foreign aid and investment crucial to reviving its economy. The plan calls for the adoption of a value-added tax and the sale of stakes in government ...

Kuwait Lifting Fuel Subsidies, Adopting Tax Reform

Kuwait's government has decided to lift fuel subsidies and apply new water and electricity consumption prices, postponing an official announcement, until the Ministry of Commerce and Industry designs an effective pla ...

GCC to Introduce VAT by 2018

The Gulf Cooperation Council (GCC) states have agreed to introduce value-added tax in the region by 2018 subject to the signing of a final agreement.

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