No tax hikes in Egypt's new budget; broader tax base planned: Kouchouk
Updated 6/22/2025 2:10:00 AM
Arab Finance: Minister of Finance Ahmed Kouchouk confirmed that Egypt's new budget will not include any tax increases, emphasizing instead a strategy to broaden the tax base as a mutually beneficial move for the state and taxpayers, as per a statement.
Speaking during a conference to announce preliminary results of the recent tax relief package, Kouchouk said a significant portion of the business community had positively responded to the package, helping the ministry meet key objectives.
He stressed that the tax community has played a crucial role in achieving positive economic indicators over the past 11 months.
Kouchouk added that the upcoming fiscal year (FY) 2025/2026 will see additional packages aimed at encouraging both current and new taxpayers.
He also noted that facilitations related to property tax are on their way to the House of Representatives, while customs-related reforms will be rolled out in the next FY.
Moreover, he said that the ministry aims to provide financial assistance to back social protection and human development.
Additionally, the minister highlighted that private investments grew over the past period, stressing continuous support to prioritized sectors.
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