The Ministry of Finance is refusing to accept a 12% VAT baseline rate during on-going talks with Parliament’s Legislative and Planning and Budget Committee on the grounds that the exemptions list is already too extensive, a Legislative Committee member said. The 14% is appropriate considering the exemptions list, Deputy Minister Amr El Monayer said. The Planning Committee aims to recommend international school tuition be VAT-exempt, the committee’s Deputy Head, Yasser Wakeel, said, on top of the seven goods and services that the Parliament was trying to exempt. Wakeel also plans to obtain an exemption for automobiles from a flat tax of 1% imposed for cars with engines under 1600cc and the 15% tax on cars of 2000cc and above. (Al Mal, Youm7, Al Borsa)