Following the Parliament's approval of a bill to amend the entertainment tax laws, a five percent tax, equivalent to 10 EGP, will be imposed on tickets for all music events, including live performances, concerts, dance parties at nightclubs, and casinos.
The updated law will also stipulate a 10 percent tax on public parties in sporting and social clubs. Since revenues from selling music online are usually insufficient, many artists solely depend on ticket sales from live performances as a primary source of income.
This coupled with the number of venues in the country, which forced artists and musicians to limit the number of their live shows in return, this additional financial burden will make it even more challenging for musical talents to make a living and pursue their passion.
A final vote and discussion regarding these new law amendments will happen when the parliament meets today.
