RIYADH: To improve ties with investors and tackle economic issues, Egypt has unveiled the “first step” of a new tax facilitation package.
Ahmed Kouchouk, the minister of finance, called for introducing policies aimed at improving productivity, streamlining the tax code, and promoting growth via higher exports and production. This comes after Mohamed Maait, his predecessor in the position, stated in January that the tax authority was nearing completion of a new draft income tax law.
We are continuing the ‘tax hearings’ and moving immediately with other packages of facilitations to stimulate the business community, with a focus on clarifying and defining the procedures and executive rules decisively so that we do not leave matters to personal estimates in the tax regions and offices,” Kouchouk stated. “We have started studying the challenges on the ground, and our decisions reflect our seriousness in meeting the needs of our partners in the tax community,” he continued.
According to a post on the prime minister’s Facebook page, “We are targeting a tangible improvement felt by the business community in the quality of tax services provided to them in the tax regions and offices.
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