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Formation of Supreme Tax Council enhances economic reform: Finance Minister
Published in Daily News Egypt on 25 - 03 - 2024

Finance Minister Mohamed Maait announced the formation of the Supreme Tax Council under a presidential decree. Chaired by the Prime Minister, the council includes leaders from industry unions, chambers of commerce, and investor groups, alongside business community representatives, tax associations, accountants, and economic, financial, and tax experts from academia. This initiative supports the state's economic reform efforts to empower the private sector and boost investment, encouraging investors to grow their productive and export activities, thereby fortifying the economy and enhancing growth rates.
In a statement on Monday, Maait emphasized the council's diverse representation, which allows stakeholders to shape tax policies and oversee their execution via robust institutional mechanisms. The council wields extensive authority to develop a progressive tax system that fosters investment and regulates the tax relationship between investors and the state.
The council's responsibilities include reviewing tax legislation, executive regulations, and issues referred by the Cabinet. It aims to improve tax administration efficiency, promote tax neutrality, and encourage voluntary compliance. Additionally, it will address complaints and challenges within the tax community, providing solutions, technical support, and legal advice to protect taxpayer interests.
Maait detailed that the council will aid tax authorities in creating educational guides on tax examination rules and procedures, fostering taxpayer awareness of their rights and duties. A document outlining taxpayer rights is also planned, alongside ongoing evaluation of tax administration initiatives to ensure fair tax and customs collection and minimize disputes.
Coordination between the Ministry of Finance, the Supreme Tax Council, and the Supreme Investment Council will focus on leveraging taxation to stimulate economic activity. The Supreme Tax Council will devise strategies to manage tax arrears and expand the tax base, integrating the informal economy to ensure tax equity.
Finally, Maait indicated swift preparations for the inaugural meeting of the Supreme Tax Council, enabling it to commence its duties as defined by Law No. 30 of 2023, which amends certain aspects of the Income Tax Law, and the presidential decree establishing the council.


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