VAT on delivery fees, covid + an extended interview with Mohamed Maait
Covid once again dominated proceedings on the nation’s talk shows last night: We have coverage on the night’s events in this morning’s Covid Watch, above.
The big business-relevant stories of the night:
The introduction of VAT on online delivery services got attention. All restaurants and businesses with more than EGP 500k in annual revenues are now charging and remitting VAT on online delivery services, under amendments to the executive regulations on the VAT Act, effective since last Thursday. Kelma Akhira’s Lamees El Hadidi wondered whether small businesses that don’t have to file VAT returns could charge customers the 14% duty and keep the money for themselves (watch, runtime: 4:54). Director of taxpayer services at the Egyptian Tax Authority Mohsen El Gayar, however, said that the changes will only impact individual shops and traders who were previously not required to collect and remit VAT on delivery services under the original VAT Act.
Elsewhere: Finance Minister Mohamed Maait told Ala Mas’ouleety in an extended, policy-light interview how Egypt has recovered from potential bankruptcy in 2014 to being an economically prosperous country today. You can watch the entire interview here (watch, runtime: 35:32).