Egypt to finalise first phase of tax reforms this fiscal year – FinMin

Egypt’s Finance Minister, Ahmed Kouchouk announced on Wednesday that the first phase of the country’s tax reform programme will be completed by the end of the current fiscal year.

The move is part of the government’s broader strategy to create a more competitive and investment-friendly environment. Key reforms include simplifying tax procedures, broadening the tax base, and enhancing transparency.

Speaking at the second Deloitte Tax Conference, Minister Kouchouk emphasised the critical role of public-private partnerships in achieving Egypt’s economic priorities moving forward.

The government is committed to working with the private sector to realise their shared goals, he noted, stressing the importance of collaboration to drive growth and profitability while enhancing economic returns for the nation.

The minister outlined efforts to broaden the tax base by supporting startups and small and medium-sized enterprises (SMEs), which are seen as key drivers of economic growth. He also highlighted the introduction of “sample-based audits” for all taxpayers as a step toward building trust and transparency between tax authorities and the business community.

Minister Kouchouk also revealed plans for additional reforms in the customs and property tax systems, aimed at improving efficiency and supporting business expansion. The government is also focused on reforming financial policies to ensure greater inclusivity, bolster the industrial sector, and promote entrepreneurship.

In line with these reforms, Egypt is working to improve its government debt indicators, creating more fiscal space to invest in critical sectors such as health, education, and social protection. With these comprehensive efforts, the government aims to strengthen the economy and attract more investment in the coming years.

Attribution: Ministry of Finance