Finance Ministry submits draft to Cabinet for tax dispute settlement law renewal
Updated 6/23/2024 8:37:00 AM
Arab Finance: The Ministry of Finance has submitted a draft law to the cabinet to renew the tax dispute settlement law until the end of January 2025, Minister of Finance Mohamed Maait said.
In addition, Maait added that over 17,000 tax disputes were settled, with a total agreed-upon tax exceeding EGP 15.485 billion as of the date of the entry into force of Law No. 153 of 2023 for 10 months starting August 2023 until end-May 2024.
The minister has also directed the Egyptian Tax Authority (ETA) to promptly settle all tax disputes for entities or companies whose business volume does not exceed EGP 10 million.
This will be achieved under the simplified peremptory tax system as outlined in the Law on the Development of Small and Medium Enterprises and Micro Enterprises to prevent shutting down any factory or company and boost local production and export, he noted.
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