Egypt’s Al-Soqati: Simplified tax system to boost small business investment, entrepreneurship

Alaa Al-Soqati, vice president of the Egyptian Federation of Investors Associations (EFIA) and president of the Federation of Small and Medium Enterprises, has said Egypt’s new simplified tax system for small businesses with annual revenues under 20 million Egyptian pounds will boost investments, startups, and entrepreneurship.
Al-Saqti explained that the streamlined procedures, exemptions, facilitation, and reduction of tax burdens and obligations under the new system help reduce production costs, increase liquidity, and support economic development.
“Now, working under the umbrella of the formal economy is easier with simpler tax procedures and lower costs… and no one will ask about what has passed,” he said.
He added that tax registration opens broad opportunities for businesses to benefit from financial facilities, export incentives, and access to training and marketing programmes.
Al-Saqti stressed that the simplified tax system reflects the Ministry of Finance’s understanding of the practical challenges facing small businesses across sectors. He said it demonstrates the ministry’s commitment to addressing these challenges realistically, within a framework of trust and partnership with the tax community.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama