Egypt to reveal new tax facilitation measures next week
Updated 9/12/2024 10:03:00 AM
Arab Finance: The new tax facilitation package will be announced next week, advisor to the Head of the Egyptian Tax Authority (ETA) Saeed Fouad told Asharq Business.
He clarified that the package will not involve any changes to tax rates.
For his part, Deputy Minister of Finance for Tax Policies Sherif El Kilani expects 50% of the parallel economy to be integrated into the formal system after announcing the new tax incentives.
He added that additional tax facilitation measures for investors will be introduced gradually.
On September 11th, the Egyptian government launched a comprehensive tax facilitation package to improve the relationship between the ETA and the business community.
Prime Minister Mostafa Madbouly also announced that Egypt is working on a second package of tax facilities, aimed at boosting investment and easing foreign trade restrictions
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