Sunday, 6 September 2015

Dimian laying groundwork for the VAT

The Mahlab government appears unlikely to enact a new law imposing a value-added tax, but will issue a string of amendments to the tax code. The news came as Finance Minister Hany Dimian released a statement (pdf) that was light on specifics, but which makes clear the government will grant a temporary 5% discount on VAT paid on goods and a temporary 15% discount on VAT paid on services when the tax first comes into effect. As to when it might be charged? That’s anyone’s guess. The finance minister has previously said it could be enacted “within weeks,” but yesterday’s statement is mum on the topic. Ahram Online has more.

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