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Tuesday, 2 August 2016

ICT chamber in talks with Tax Authority to exempt software programs from VAT

Will software be exempt from the VAT? The ICT division of the Federation of Egyptian Chambers of Commerce is in talks with the Tax Authority to exempt software from the value-added tax (VAT), Al Borsa reported on Monday. Software had already been exempted from sales taxes, and any additional levies on the sector would decrease competitiveness with international firms, said Mohammed Omar, vice chairman of the division. He added that the sector currently suffers from labor shortage as talented staff are relocating to the GCC countries or Europe for better opportunities.

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