Ali Issa, chairman of the Egyptian Businessmen Association (EBA), affirmed that Egypt's tax relief package includes incentivising and ambitious measures being vigorously pursued by the Ministry of Finance and the Egyptian Tax Authority. He said the steps are paving the way to meet the tax community's needs while reinforcing "trust and certainty" with taxpayers. Issa said the package helps ease the tax burden and supports a joint push to stimulate economic activity, increase production, boost exports, and raise growth rates. He acknowledged that the challenge in any ambitious initiative lies in its implementation. "However, we trust in the ability of the Egyptian Tax Authority to achieve better development, especially with this positive approach through which it seeks to remove any obstacles or challenges facing taxpayers to help them grow, considering them genuine partners, and to expand their investment activities," Issa said. He added that the tax facilitation package reflects a different approach to analysing and improving the tax reality, fostering a "genuine partnership" between the business community and the Egyptian Tax Authority. Issa highlighted that the e-clearing system provides liquidity and facilitates the payment of government dues. He pointed out that simplified regulations for resolving tax disputes and the principle of "not looking to the past" encourage investment, particularly through flexible provisions in the tax relief laws. These provisions include allowing taxpayers to resolve disputes from estimated assessments for tax periods before 2020 by paying a percentage of the tax due and making quarterly instalment payments over one year without incurring late payment interest. In addition, taxpayers can settle disputes arising from audits of books and accounts for years up to 2020 with a 100 per cent exemption from delay-interest fines, additional taxes, and additional amounts. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
