Home
Previous Post
Egypt’s First Religious Tolerance Museum to Open in New Administrative Capital
Next Post
Egyptian Film Producer Chosen as Jury Member at Venice Film Festival

Egypt to Tax Social Media Ads

Effectively increasing cost of advertising through traditional and social media channels by 20%.

Egypt's Finance Minister Mohamed Ma'ayat announced that the government is now moving to enforce a parliament-approved VAT on advertising through social media and search engines, and goods and services sold through those channels, Egypt Independent reported Friday. 

According to Ahram Online, Egyptian MPs are pressuring the Finance Ministry to enforce the tax after they passed a widely controversial law that could possibly see Egyptian social media users with more 5K followers monitored by security forces. The tax is to add 20% to the cost of advertising through traditional and social media channels. 

The VAT reform program took off after Egypt struck a deal with the IMF by which it obtained a $12 billion loan back in 2016. The government aims to increase its tax revenue to EGP 32 billion for the current fiscal year. Vital products such as eggs, tea, sugar, and fish are exempt from VAT due to their impact on lower income Egyptians.

 

 


Todays Events
Ghalia Benali @ Cairo Opera House
Concerts
Date: 5/26/2019
Time: 9:30pm - 11:30pm
Venue: Cairo Opera House
Summer Affordable Art Show @ ArtsMart
Exhibitions
Date: 5/26/2019
Time: 12:00pm - 12:0am
Venue: Arts-Mart
Cinema Elforn: A Season in France @ Darb 1718
Film
Date: 5/26/2019
Time: 9:00pm - 11:30pm
Venue: Darb 1718
Time To Practice @ Nun Center
Workshop
Date: 5/26/2019
Time: 8:00am - 6:00pm
Venue: Nun Center
Lanterns on the Terrace @ Emaar Misr
Dining
Date: 5/26/2019
Time: 10:00pm - 3:00am
Venue: Uptown Cairo
Ubuntu Revisited 3 @ Ubuntu Art Gallery
Exhibitions
Date: 5/26/2019
Time: 11:00pm - 4:00pm
Venue: Ubuntu Art Gallery
Iftar & Sohour @ Jayda Nile Terrace
Dining
Date: 5/26/2019
Time: 6:00pm - 3:00am
Venue: Conrad Cairo
Ramadan Iftar & Sohour @ Ayadina
Dining
Date: 5/26/2019
Time: 6:00pm - 3:00am
Venue: Ayadina