With Egypt’s economy struggling to get out of
the decline it suffered owing to the political turmoil brought on by the Arab
Spring uprising in 2011, talk has been going on among economists that a tax
imposed on purchases, Value Added Tax (VAT), may save the day. Discussions
abound about the experience of countries that preceded Egypt in applying VAT,
particularly France, who took the lead in 1954.
VAT is a consumption
tax levied on any value that is added to a product; it is an indirect tax,
in that the tax is collected from someone who does not bear the entire cost of
the tax. Many experts believe VAT is one of the best taxation methods owing to
its unified system of application and calculation with respect to all
taxpayers ... for more information visit en.wataninet
