Egypt's Ministry of Finance has issued details on the new value added tax (VAT) regime that has been approved by the Egyptian cabinet and is pending approval by parliament ({News-2016-05-27/P/3- previous coverage}).

Key details include:

• The standard VAT rate is to be 14% (not finalized);
• A reduced rate of 5% will apply for certain supplies of machinery and equipment;
• The general VAT registra…