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Gold Manufacturing Costs in Egypt Vary by Design, as Annual Tax Adjustment Adds ~1 EGP per Gram
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Gold Manufacturing Costs in Egypt Vary by Design, as Annual Tax Adjustment Adds ~1 EGP per Gram
The head of Egypt's Gold Division explained the factors determining gold jewelry manufacturing costs, while a routine annual tax adjustment took effect on July 1.
- Hani Milad, head of the Gold Division, stated that manufacturing costs (mussani'a) differ by design complexity, labor, electricity, maintenance, and material waste.
- Milad said that pieces requiring advanced techniques or high craftsmanship incur higher costs than simple pieces.
- A protocol with the Egyptian Tax Authority, applied from July 1, raised the average taxable manufacturing cost by 10% annually, with a 14% VAT on that increase.
- Milad said the adjustment results in an average increase of about one Egyptian pound per gram of gold jewelry for consumers.
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