Egypt to advance second tax relief package to parliament after Eid – FinMin

Egypt’s Finance Minister Ahmed Kouchouk said on Tuesday the government will submit a second package of tax facilitation measures to parliament after Eid al-Fitr, citing the success of earlier reforms aimed at supporting small, medium, and micro enterprises.

Speaking at the annual conference of the Federation of Small, Medium, and Micro Enterprises, attended by investors from across Egypt, Kouchouk said the ministry remains committed to direct dialogue with investors to address tax, customs and financial challenges with practical solutions.

“Last year we promised the first package of tax facilitation measures, and with your cooperation, we successfully implemented it,” Kouchouk said. “The positive results show that investing in the private sector is always a winning bet.”

Kouchouk said 120,000 taxpayers had voluntarily joined the simplified tax system, while additional financial initiatives were introduced to encourage broader participation. He added that taxpayers submitted 660,000 new or amended returns, reported 1 trillion Egyptian pounds in business activity, and paid about 80 billion pounds in additional taxes.

He said the second package would further support economic activity, building on initiatives in industry, tourism and exports, while also aiming to improve customs clearance times and reduce costs for investors.

“We are proud of the trust shown by our partners in the tax facilitation programme,” he said, reaffirming the government’s commitment to improving Egypt’s business environment.

Attribution: Amwal Al Ghad English