According to the Egyptian Tax Authority, no new laws have been passed to raise the value-added tax. However, some businesses use this as an excuse to raise the prices of some of their products, as has been reported on some electronic news websites in the wake of several businesses announcing price changes for some of their products.
In a statement released today, Wednesday, the Tax Authority claimed that the value-added tax rate is set as it is and has not been subject to any revisions and that any tax increase must be approved by legal text following House of Representatives approval.
The authority urged businesses to take on a greater sense of national responsibility and refrain from using value-added tax as a justification for raising the price of their goods.
Prior to releasing any tax-related news, she emphasised the necessity to thoroughly research accuracy and completeness from reliable sources in order to ascertain the truth and avoid any misunderstandings.
There are currently no legislation in place to raise the value-added tax.
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