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ARTICLE · 22 JANUARY 2019

Egypt Tax Summaries 2018

Andersen
Andersen
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In the last three years Egypt has solidified its position as one of the biggest markets and economies in the Middle East and the Arab world, due to its developed economic, market and social structures and wide labor resources.

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In the last three years Egypt has solidified its position as one of the biggest markets and economies in the Middle East and the Arab world, due to its developed economic, market and social structures and wide labor resources.

In order to enhance economic performance and restore growth, the government has introduced a broad fiscal reform program. Firstly, the Value Added Tax (VAT) system was introduced as a replacement for the General Sales Tax Law, along with an updated version of the Investment Law. Egyptian Companies Law was also amended in order to attract new investments to Egypt, and this was supported by lower customs duties, removal of exchange control restrictions and the floating of the Egyptian pound (EGP).

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