The Egyptian Tax Authority issued an official circular updating the average making charges for gold, silver, and platinum jewelry by 10 percent, effective from July 1, 2026, until the end of June 2027.
This increase is based on a protocol signed between the Tax Authority and the gold traders and manufacturers divisions.
Al-Masry Al-Youm obtained a copy of the circular which states that, according to the new amendment, the average making charges per gram of 21-karat gold has risen to LE 64.41, while for the 18-karat gold is approximately LE 96.64.
These figures are before the addition of the 14 percent Value Added Tax (VAT), which is calculated only on the total making charges not on the total price of the jewelry.
The Tax Authority clarified that these averages are prepared for tax accounting purposes, in accordance with the agreed-upon protocol, and do not necessarily reflect the final price charged by retailers to consumers in the market.
The head of Egypt’s Gold and Jewelry Division at the Federation of Chambers of Commerce, Hany Milad, said that the announced increase pertains to the making charges is stipulated in the protocol signed between the Tax Authority and the Gold Division in 2022.
He emphasized that the tax is calculated only on the making charges, not on the value of the gold itself.
Milad explained that the new increase will not significantly impact gold jewelry prices in the market, merely amounting to approximately one Egyptian pound on average for the making charges of a gram of gold and about 15 piasters for a gram of silver.
The making charges varies from one company to another depending on the type of jewelry, the karat used, the level of skill, and the artistic design, he added.
Milad noted that items with complex designs or manufactured using modern techniques have higher making charges than traditional items.
Edited translation from Al-Masry Al-Youm
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