Parliament gives final approval to extension of tax dispute settlement law until June
Updated 11/6/2024 1:14:00 AM
Arab Finance: The Egyptian Parliament has given final approval to a government-proposed law extending the validity of Law No. 79 of 2016, concerning the settlement of tax disputes, as per a statement.
This decision is set to ease financial burdens on taxpayers and strengthen their tax and financial stability, particularly amid the current global economic challenges.
The proposed tax policy aims to balance the rights of the public treasury with those of taxpayers in a way that reinforces trust between the tax administration and taxpayers while encouraging investment and economic growth.
Minister of Parliamentary and Legal Affairs Mahmoud Fawzi emphasized that this extension offers a key opportunity for taxpayers to settle old taxes.
He clarified that the six-month period stipulated by the law is only for submitting applications, not for final decisions, ensuring that taxpayers have adequate time.
The law now extends its application deadline to June 30th, 2025, instead of January 31st, 2025, giving technical committees a minimum of three months to review and decide on tax dispute cases, the minister explained.
Furthermore, Fawzi urged taxpayers to take advantage of this period to prepare their tax files ahead of the deadline.
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