Political parties, NGOs reject parliament's approval of VAT

• Published date: 03 September 2016
• Publication title: Daily News Egypt

Eleven political parties and non-governmental organisations (NGO) as well as several public figures condemned in a joint statement the value-added tax (VAT) draft law approved by parliament last week.

The statement criticised the approval of VAT, saying that its approval will cause further poverty and social inequality and also criticised ongoing price increases. It also criticised the government's performance on the matter, depicting the administration as unwise in how it has controlled the country's resources and expenditures.

Member of parliament Samir Ghataas told Daily News Egypt: 'The financial struggles we are currently facing are the result of international bank terms. Prices already increased by 30% prior to the VAT's approval, and now it is expected that prices will increase by an additional 30% with the tax's application.'

The parliament approved the VAT draft law on 28 August, with a rate of 13% set for...