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Monday, 19 June 2017

Internet prices to go up in September once the full VAT is applied to services, says Abdel Moneim Mattar

Internet prices are likely to go up in September, once the value-added tax (VAT) is fully applied to the service, according to Al Borsa. ADSL services had been exempt from the VAT for its first year in effect, but will be subject to a 14% rate when the VAT rises, Finance Ministry VAT commissioner Abdel Moneim Mattar says. Private internet service providers said last week that they asked the ICT Ministry to help them extend their exemption for a second year, especially since they are already paying TE Data high utilization fees for its infrastructure and incurring losses due chiefly to its monopoly of the market.

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