The Egyptian Tax Authority (ETA) has denied recent reports of plans to increase the Value Added Tax (VAT) rate or remove exemptions for basic food items, according an official statement from the Ministry of Finance on Tuesday. ETA emphasised that there will be no alterations to these crucial goods, which directly impact citizens' daily lives. It reiterated its commitment to stable tax policy to support the state's investment attraction and economic growth efforts. The authority is taking steps to enhance trust and transparency with business community through tax facilitation initiatives, creating a favorable investment environment, and integrating investments into the formal economy. It also reiterated that supporting the national economy remains a top priority for the state, which is fundamentally focused on achieving sustainable economic and social development while providing a robust social safety net. This commitment is reflected in the continued stability of current tax policies and the absence of any plans to introduce new tax increases—either in income tax or the general VAT rate, the statement explained. The authority reiterated its call for all media outlets to be accurate and verify information with official sources before publishing or circulating any news regarding tax policy, as per the release. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
