The heads of the Business Divisions at Cairo Chamber of Commerce, demanded applying VAT from the source and respect for the fairness of application, as its application currently are marred by double standards, which leads to higher prices of the product to the consumer, and with regard to income tax, they demanded to raise the exemption limit Tax of 24,000 pounds per worker, to keep pace with the rising cost of living and the new minimum wage.

This came during the meeting of Mr. Ibrahim ElAraby, Chairman of Cairo Chamber and Chairman of Federation of Egyptian Chambers of Commerce, with the heads of the business divisions to discuss the amendments pending to the law on Value Added Tax and the draft of the new law the tax on income, to adjust prices and keep up market stability.

The heads of the Business divisions confirmed that there is a detailed memorandum to be submitted to ElAraby, within days, including the final proposals from all different sectors.

Ali Shokry, First Vice Chairman of Cairo Chamber, said that the chamber takes into account the suggestions and observations of the heads of the Business divisions as representatives of the commercial entity, in addition to it seeks to overcome the difficulties to be reflected positively on the consumer.

He added that the board of directors of the chamber is seeking with the concerned authorities to apply all kinds of taxes fairly, reduce their multiplicity and prevent duplication in favor of the public interest. He pointed that the meetings will continue in the coming days to discuss the largest number of proposals to reach a final proposals representing all sectors to be submitted to the Tax Authority.