New Law Imposing Taxes on Social Media Ads

Recently The Media, Culture and Monuments Committee has drafted a new law regulating the press and media, imposing taxes on advertisements posted on social media websites and Google.

Members of parliament called for imposing taxes on social media platforms ads as, according to  Mustafa Bakri, social media platforms such as Twitter, Facebook and Google earn millions from posting ads and making use of the Egyptian online news industry, however; they find many ways to avoid paying taxes.

On a related side note, MP Mohamed Fouad referred to the difficulties that might hinder collecting taxes as most of social media websites do not have representative offices in Egypt; hence, they are not subject to Law No.9 of 2013 for the stamp tax adding that a law should be drafted to regulate and impose tax on the digital advertising market on social media and Google to get tax revenues from the internet.

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