Egypt to form committee to amend value-added tax law -finance minister

Credit: REUTERS/AMR ABDALLAH DALSH

Egypt will form a committee to amend its value-added tax law, Finance Minister Mohamed Maait told reporters on Monday.

CAIRO, July 29 (Reuters) - Egypt will form a committee to amend its value-added tax law, Finance Minister Mohamed Maait told reporters on Monday.

The VAT law is part of a reform programme that formed the basis of a $12 billion, three-year loan agreed with the International Monetary Fund in 2016.

VAT replaced a sales tax and broadened the tax base in a country where the government struggles to collect income tax because of a large informal economy and widespread avoidance.

(Reporting by Ahmed Ismail; Writing by Nadine Awadalla; Editing by Catherine Evans)

((Nadine.Awadalla@thomsonreuters.com;))

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