Arab Finance: Egypt's House of Representatives approved a new simplified tax system for projects with an annual turnover of up to EGP 15 million, according to an official statement.

The proposed draft law aims to create an integrated tax system for projects registered within the Egyptian Tax Authority (ETA), whose annual business does not exceed EGP 20 million.

In this regard, the tax community base will expand by including informal projects in the formal economy system.

This comes as per a report issued by a joint committee of the Planning and Budget Committee, the Micro, Small and Medium Enterprises (MSME), and the Constitutional and Legislative Affairs Committee.

Additionally, the Parliament passed a proposal submitted by member Abdel Hadi Al-Qasabi on raising the turnover of companies subject to tax to EGP 20 million, instead of EGP 15 million.

Finance Minister promises fresh start with new tax incentives, simplifications Updated 1/27/2025 3:02:00 PM

Egypt’s Parliament approves amendments to Unified Tax Procedures Law Updated 1/27/2025 8:36:00 AM

MSMEDA inks MoU with CIB to provide technical, financial support for MSMEs Updated 1/22/2025 8:22:00 AM

Egyptian Parliament approves $131M agreement with AfDB for budget support program Updated 12/31/2024 8:56:00 AM

Tax services to improve as 1st package of facilities nears implementation: Kouchouk  Updated 12/15/2024 12:03:00 PM