1st phase of tax concession plan to kick off ’25 – Egypt’s FinMin

Egypt’s Finance Minister Ahmed Kouchouk affirmed that expanding the tax base fairly and effectively remains a priority, adding that the first phase of tax concessions plan will be implemented this year as promised. These measures aim to build trust, strengthen partnerships, and support the business community.

Speaking at a panel discussion organised by the Egyptian Businessmen’s Association (EBA), Kouchouk highlighted that the tax sample-based audit system across all tax offices reflects confidence in taxpayers. He described the tax concession package as a realistic and flexible response to current economic challenges.

Kouchouk emphasised the government’s balanced approach to empowering the private sector as a driver of economic growth and development. He noted that the economic ministerial group is working to introduce successive measures aimed at fostering a more investor-friendly environment.

The minister pointed out to the initiatives launched in collaboration with the Ministry of Tourism to increase hotel capacity and with the Ministry of Industry to stimulate productive sectors. He also mentioned plans to expand access to state-supported financial facilities.

Additionally, he emphasised the need for cooperation with the energy sector to promote the transition to cleaner and more cost-effective energy sources. He also reiterated Egypt’s commitment to reducing public debt and improving public finance indicators.

The upcoming budget will support the export sector, with efforts to enhance the customs system and streamline trade operations in collaboration with the Ministry of Investment and Foreign Trade, Kouchouk added.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama