Egypt pens BRICS framework agreement for tax cooperation
Updated 10/2/2024 8:56:00 AM
Arab Finance: The Head of the Egyptian Tax Authority (ETA) Rasha Abdel Aal has signed the BRICS Framework Agreement for Cooperation on Tax Fields in Moscow, marking Egypt’s commitment to enhancing its tax administration in alignment with the BRICS countries, as per a statement.
This agreement supports Egypt's policies of fostering cooperation with international economic powers while balancing investment promotion with tax revenue maximization.
The agreement is part of a broader initiative backed by Egypt’s Minister of Finance, aimed at leveraging the advanced experiences of BRICS nations in tax digitization and human resource development.
Abdel Aal emphasized that the signing is a significant step toward improving cooperation between Egypt and BRICS countries, known for their long-standing success in modernizing tax administration and boosting revenues.
The agreement also highlighted the development of human resources, stressing the importance of training and empowering women and youth within tax departments.
Last year, South African President Cyril Ramaphosa announced that the BRICS bloc of developing nations invited Egypt to join the group as of 2024.
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