Egypt: Egypt Moves to Exempt Key Commodities from Freight Value Added Tax
On November 18, 2020, the Egyptian Cabinet approved a draft bill that exempts importers of key commodities from paying value-added tax (VAT) on shipping costs. The legislative amendments to the VAT Tax Act are expected to remove taxes paid on freight costs for grains, legumes, table salt, and spices. If implemented, the previous tax policy could have disrupted agricultural commodity exports to Egypt, and place U.S. origin at a competitive disadvantage in the Egyptian market.
Egypt: Egypt Moves to Exempt Key Commodities from Freight Value Added Tax
