July 19, 2020

Egypt increases stamp duty by EGP 0.16 on mobile users starting July


Unlike prepaid customers, the tax, valued at EGP 8 in total, will be paid by monthly billing customers once a year.

Mobile phone users have received a message stating a 16-piaster increase in stamp duty starting July, to reach 67 piasters per month.

Sources from mobile companies said the tax increase is to be borne by the subscriber in accordance with the law, and will be collected and supplied to the state through the mobile network companies.

Unlike prepaid customers, the tax, valued at EGP 8 in total, will be paid by monthly billing customers once a year.

The sources added that Article 9 of Law No 83 of 2020 was amended to include a payment of EGP 2 for each vessel subject to the special stamp tax on which the stamp tax is 5 piasters or more.

President Abdel Fattah Al-Sisi has approved Law No 83 of 2020, amending some provisions of Law No 147 of 1984 imposing a fee for the development of state financial resources.

The law provides for an increase in the development fee imposed under Article 1 of Law No 147 of 1984 that will go towards the state’s financial resources on vessels subject to the stamp tax.

In case there is not enough balance on pre-paid phones, the amount will be deducted as soon as the balance is recharged. If the 67 piasters were not deducted due to the lack of balance through the entire month, the amount will be deducted the next month.

thedailynewsegypt


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