Egypt unveils VAT exemption on some imported pharmaceutical materials

This decision comes after Prime Minister Mostafa Madbouly confirmed last week the availability of medicines and medical equipment as well as a secure reserve in the country

Staff Writer, Arab Finance

May 28, 2023

PHOTO

The Egyptian Customs Authority (ECA) has temporarily exempted some of the imported raw materials used in the pharmaceuticals industry from the value-added tax (VAT), according to a circular issued on May 25th.

This decision comes after Prime Minister Mostafa Madbouly confirmed last week the availability of medicines and medical equipment as well as a secure reserve in the country.

The government is constantly coordinating with the Central Bank of Egypt (CBE) to ensure a seamless release of raw materials used in the pharmaceuticals industry, medicines, and medical supplies, Madbouly said.

He also urges the pharmaceutical companies in Egypt to ensure having sufficient stocks of all medical-related requirements.

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