VAT

  • Finance Ministry Announces Petroleum Services Subject to VAT

    Finance Ministry Announces Petroleum Services Subject to VAT

    Wednesday, 10th January 2018

    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 be shifted from sales tax to VAT.

  • VAT Revenues from Oil Sector Rose 520%

    VAT Revenues from Oil Sector Rose 520%

    Monday, 16th October 2017

    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

    E&P Activities to be Exempted from VAT

    Wednesday, 20th September 2017

    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

    Tax Authority to Discuss VAT on IOCs

    Tuesday, 11th April 2017
    The Egyptian Tax Authority is in talks over applying VAT on IOCs in Egypt.
  • EGPC, Tax Authority to Discuss Value Added Tarrifs

    EGPC, Tax Authority to Discuss Value Added Tarrifs

    Thursday, 23rd February 2017
    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

    Egypt Saw 10% Rise in Fossil Fuel Usage

    Monday, 8th August 2016
    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

    Egypt’s Cabinet Confirmed Fuel Exempted from VAT

    Tuesday, 19th July 2016
    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 Unveils Economic Plan to Secure Foreign Funds

    Monday, 28th March 2016
    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 companies.
  • Kuwait Lifting Fuel Subsidies, Adopting Tax Reform

    Kuwait Lifting Fuel Subsidies, Adopting Tax Reform

    Monday, 21st December 2015
    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 plan to monitor prices amid fears of inflation.
  • GCC to Introduce VAT by 2018

    GCC to Introduce VAT by 2018

    Tuesday, 8th December 2015
    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.