Also on our reading list: Answers to 108 frequently asked questions about the value-added tax, as published by the Ministry of Finance. We’re still waiting for the executive regulations within about a week’s time (give or take — we’d imagine the Finance Ministry getting an extra couple of days due to Islamic New Year and Armed Forces Day). That having been said, the FAQ is a start and tackles the tax from the viewpoint of both the consumer and of business, giving some reasonable hints as to where certain questions might break in the exec regs. You can read the full FAQ in Arabic here (pdf).

The document was released as Deputy Finance Minister Amr El Monayer says the government is working on a marketing campaign to increase awareness about the number of goods and services that are now taxed at a lower rate. The government is also holding meetings with banks to clarify the treatment of non-banking activities under the law.

The FAQs appear to not be enough for the Egyptian Tax Experts Group which is stating that many major elements of the VAT need further clarification and must be addressed in the executive regulations, Al Mal reports. Issues the group notes include the amendments to contracts that stipulate that taxes are included. This could impact contracts signed with foreign developers working on key national projects, said the group’s head, Ashraf Abdel Ghany. The organization is also very critical of the application of the tax retroactively as this would severely impact many business with preexisting contracts and have conducted financial and feasibility studies on a number of projects, which must now be redone.