Egypt is moving forward to impose taxes on social media websites.
Egypt is moving to impose taxes on social media sites.

Egypt announced its intention to impose taxes on the "digital economy", including subjecting social networking sites to the tax system "to collect the right of the state."

 Ahmed Kgouk, the Egyptian Deputy Minister of Finance, said that a law is currently being prepared and measures are being taken to subject the activities of e-commerce, online advertising and social media to the tax system.

According to a statement published on the website of the Egyptian Ministry of Finance on Saturday, Kgouk said that this step comes "to achieve the right of the state;

 The remarks came on the occasion of Egypt's accession to the "Yaoundé Declaration" coinciding with the participation of Kgouk in the work of the tenth meeting of the Global Forum for Transparency and Exchange of information in the tax area, which was held in France.

 The principles of the Yaound Declaration seek to promote financial transparency, combat evasion and double taxation, and illicit financial flows to African Member States.

 The Egyptian government's plans to levy taxes on social media sites are not entirely new.

 In August, the Egyptian Ministry of Finance revealed meetings with representatives of Facebook, after an invitation from the ministry to benefit from the company's expertise on the best ways to collect e-services taxes.

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