Cairo – Mubasher: The price of phone recharge cards in Egypt will increase by 10% after adopting the value-added tax (VAT), according to a joint statement on Tuesday by the Ministry of Finance (MOF) and the National Telecommunication Regulatory Authority (NTRA).
Out of the 10% increase, 6% will be deducted as a VAT credit, while the remaining 4% will be given to the consumer in the form of additional minutes, the statement revealed.
Yesterday on the sidelines of the Euromoney Egypt Conference, deputy finance minister Amr Al-Mounir said that the current proposed prices of mobile recharge cards are exaggerated and the final prices are yet to be determined.
Taxes on cell phones rose to 22% from 15%, of which the VAT and the tax on tabled commodities represent 13% and 8%, respectively.
