VAT | Egypt Oil & Gas
Tax Authority: VAT Amendments Will Not Raise Fuel Prices
The Egyptian Tax Authority (ETA) announced limited amendments to the Value Added Tax (VAT), introducing a 10% tax on crude oil. Meanwhile, this tax will not affect the price of local petroleum products, according to a...
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, the Deputy Finance Minister for Taxation Policies, Amr El Munir, stated durin...
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), the First Undersecretary of the Ministry of Finance, A...
Tax Authority to Discuss VAT on IOCs
The Egyptian Tax Authority’s Chairperson, Emad Samy, stated that the Tax Authority is in talks over applying the value added tariff (VAT) on international oil companies (IOCs) working in Egypt, adding that it w...
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...
Egypt Saw 10% Rise in Fossil Fuel Usage
An official at the Egyptian Ministry of Petroleum stated to Egypt Oil&Gas that the ministry has spotted 10% increase in local usage of fossil fuel across all the governorates. The ministry’s official said th...
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’s fuel will not witness any price hikes, reported Ni...
