Egypt’s El-Wakeel: Tax relief package marks shift towards business-friendly environment

Ahmed El-Wakeel, chairman of the Federation of Egyptian Chambers of Commerce (FEDCOC), has affirmed that Egypt’s tax relief package represents a positive and encouraging initiative aimed at creating a business-friendly and investor-stimulating environment.
El-Wakeel said the Ministry of Finance and the Egyptian Tax Authority are opening a new chapter of partnership with the business community, demonstrating a deep understanding of tax challenges, flexibility in decision-making, and a commitment to addressing core issues.
He noted that this approach contributes to boosting productivity, achieving sustainable economic growth, and generating more job opportunities.
El-Wakeel observed increased flexibility and facilitation for taxpayers in resolving tax disputes under the new law, which provides simplified and accessible mechanisms to support businesses.
He expressed optimism over the law’s cap on late fees and additional tax, noting that these will not exceed the principal tax amount. Building trust with the tax community, he said, promotes voluntary compliance.
El-Wakeel reaffirmed their commitment to collaborate on enhancing the tax system responsibly to simplify processes, improve the business environment, and attract investments.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama