Egyptian-based advertisers on Facebook lacking a valid Egyptian value-added tax (VAT) identification number will be charged 18% on the value of advertising services, the social media giant has announced.
According to ‘think marketing’, If an Egyptian-based advertiser does not provide a VAT ID number, VAT at 18% will be charged on all advertising services.
How to calculate it? If you were recently charged 100 EGP because you reached your 100 EGP billing threshold, the subtotal for the charge will be 100 EGP in ad costs.
An 18% VAT will be added on top of that, so you’ll pay 118.00 EGP in total for that charge (100 EGP + 18 EGP = 118.00 EGP).
It also urged advertisers to check their account settings and make sure that they have provided the ID if they have it.
Official figures disclose that 1.52 billion use Facebook daily, 2.32 billion use Facebook monthly, and 93% of the advertising revenue comes from mobile.
In addition, 2.7 billion people use Facebook, Instagram, WhatsApp or Messenger each month (Facebook’s “Family” of services).