July 29, 2019 / 9:29 AM / 3 months ago

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

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)

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