Tamer mohamednosair - - Tax services and everything related to taxes
What Is Stamp Tax and What Is Its Legal Basis?
tamp tax is a tax imposed on certain documents, transactions, and legal acts specified under Stamp Tax Law No. 111 of 1980 and its amendments. Unlike income tax, stamp tax is not dependent on the realization of a profit. Instead, it may become due simply upon the issuance of a taxable document or the completion of a taxable transaction. Therefore, stamp tax may be payable even by a company that is making losses, which can come as a surprise to many financial managers.
Tamer mohamednosair - - Tax services and everything related to taxes
How to Calculate Payroll Tax on Salaries in Egypt
Many business owners and employees alike ask us how payroll tax on salaries is calculated, how it is deducted monthly from employees’ salaries, and who is responsible for remitting it to the Egyptian Tax Authority. Over 26 years of serving more than 1,270 clients across 14 different sectors, we at ECPA have observed that payroll tax calculation errors are among the most common issues identified during tax inspections. In this guide, we explain how payroll tax is calculated in accordance with Income Tax Law No. 91 of 2005 and its amendments, the employer’s obligations, the annual tax reconciliation process, and the most common practical errors and how to avoid them
Tamer mohamednosair - - Tax services and everything related to taxes
Tax Examination
A tax examination is the stage at which the Egyptian Tax Authority examines whether the information declared by a business in its tax returns is accurate and whether its accounting records and supporting documents are consistent with the actual nature of its business activities.
Tamer mohamednosair - - Tax services and everything related to taxes
Tax Evasion
Some business owners believe that tax evasion is a way to save money. In reality, however, it is one of the most serious legal and financial risks a business can face, especially with the significant development in the Egyptian Tax Authority’s ability to electronically cross-check and match data.