After much hemming and hawing, we are finally staring down the barrel of a value-added tax (VAT). Egypt has been wringing its hands on replacing the current general sales tax with VAT to broaden the tax base and boost revenue, but plans were put into high gear in recent weeks after the International Monetary Fund (IMF) made enacting a VAT as a condition for Egypt to receive a USD 12 bn, three-year extended fund facility.

As you’ll read in Speed Round, the VAT is now (almost) the law of the land after the House of Representatives approved it yesterday in what stands as a model of legislative efficiency. If you’ve wondered what a VAT is — how it works, where it has (and hasn’t) worked in the past, et cetera — then this primer is for you. We’ve dug deep into what VAT is, what policies tend to make it successful and those that make it … not so successful. Tap here to read the primer and make sure you feel up to speed.