Cairo – Mubasher: Egypt’s Ministry of Finance (MoF) is considering a draft law for the introduction of a tax on advertising on social media.
A tax will be imposed on social media users who commercialise and promote their products, the ministry said in a statement.
Once the draft law is completed, it will be discussed by the responsible entities, the parliament, and social community organisations, the ministry stressed.
The ministry denied any intentions to introduce a tax on the usage of social networking websites and apps, mainly Facebook.
Using these websites and apps is a free service and no taxes will be levied from citizens for using them, the MoF said.
A government source stated days ago that Egypt considers a draft law on electronic advertising and a stamp tax of up to 20% will be imposed on ads on social media websites.
