The Value-Added Tax (VAT) bill, which will be discussed by Parliament with the Minister of Finance Amr El Garhy today, will include a different set of exemptions than was previously reported. Not all staples of food will be VAT-exempt; 1% will be imposed on vegetable, cooking oils and grease, while 5% on confectionary goods and all flours apart from those used in bread. Diesel, petrol, and kerosene will be subject to a tax ranging from EGP0.18-0.63/litre, depending on whether it is imported or not. Construction, imported production inputs for the pharmaceuticals industry, fertilisers and all forms of air-conditioned transportation will be taxed at 5%. Professional services (including the services of legal counsel and accountants) will be taxed at 10%, while international schools and universities will be taxed at 5%. Nevertheless, the general taxation rate for the VAT has not been set as per the latest draft presented to Parliament. (Al-Borsa)