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Editor in Chief Mohamed Wadie

Parliament's Budget Committee Agrees to Amend Stamp Tax Law, State Resources Development Fee

Thu 25 May 2023 | 03:41 AM
Taarek Refaat

The Parliament's Plan and Budget Committee, chaired by Fakhry Al-Feki, agreed to amend some provisions of the Stamp Tax Law and State Financial Resources Development Fee Law to develop the state's financial resources.

2% tax on durable goods and 10% on the customs invoice ... Theatre, cinema and fish products are on the list

The amendments included the addition of a stamp tax at an additional rate of 1% on premiums and insurance charges.

A fee of 100 pounds is imposed, whoever departs the country, with the exception of drivers of passenger and cargo vehicles, lines or trucks used to cross the borders. A fee of 50 pounds will also be imposed for foreigners coming for the purpose of tourism only to the governorates of the Red Sea, South Sinai, Luxor, Aswan, and Matrouh.

The amendments also stipulated the imposition of a fee of 3% of the value of each commodity purchased from duty-free shops, with a minimum of $1.5 dollars, including one liter of alcoholic beverages.

Also 10% of the value of each additional liter of spirits authorized for personal use will be collected, with a minimum of $12. Members of the foreign diplomatic and consular corps are exempted from this fee.

Regarding durable goods, the amendments stipulate imposing a fee of 2% of the value of the final product for durable goods of all kinds.

Also, a fee of 10% of the value of the invoice for customs purposes will be imposed, in addition to the customs tax on the following imported materials: salmon fish, shrimp and lobster, imported cheese, anchovies, caviar, crusty fruits, fresh or dried fruits, roasted coffee, chocolate and flour mills.

This 10% will also be applied to mixers, shaving machines, hair dryers, electric styling appliances, coffee and tea makers, toasters, headphones, earphones, wrist and pocket watches, tricycles, scooters, pedal carts and lighters.

A fee of 5% of the value of the final product for all kinds of soft drinks, whether soft drinks, whether produced locally or imported, will be imposed with a minimum of 25 piasters.