Last Update 18:10
Thursday, 22 October 2020

Finance ministry issues new measures for VAT payments

The measures come in line with guidelines encouraging the adoption of electronic payments, to lessen the impacts of the Covid-19 pandemic

Doaa A.Moneim , Sunday 7 Jun 2020
Egypt
Egypt's finance ministry (Al-Ahram)
Share/Bookmark
Views: 1240
Share/Bookmark
Views: 1240

Egypt’s Ministry of Finance announced Sunday new measures regarding repaying Value Added Tax (VAT) and related taxes on commodities and services, in order to ease the payment process for clients.

The new measures have been included in a circulated book sent to all concerned departments that follow the finance ministry.

The new measures, according to a ministry statement, include that ministries, state administrative body units, community managements units, and public and independent bodies are committed to deduct VAT and its related taxes on these entities' purchases of commodities and services and send them to the Egyptian Tax Authority (ETA) within 30 days from the date of purchasing using electronic payment instruments.

Public bodies, according to the new measures, are required to extend a statement that includes all the VAT payer’s data and the total value of the required taxes and send it to ETA via fax or through calling the hotline 16395.

The Ministry of Finance has begun to provide new facilities, especially for payments, amid the Covid-19 outbreak crisis, urging all clients, taxpayers and citizens to rely on electronic instruments in a bid to contain the impacts of Covid-19.

Short link:

 

Latest

© 2010 Ahram Online.