Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), emphasized that tax policy plays a crucial role in attracting investment to Egypt. Over the past years, the government has actively worked on developing the tax system by implementing various projects and initiatives aimed at simplifying procedures and stimulating the investment environment. Abdel Aal highlighted the authority's commitment to communication with the business community and investment circles. By intensifying these interactions, they aim to exchange visions and foster successful implementation of development and automation projects. During a seminar organized by the British Egyptian Business Association (BEBA), Sayed Sakr, Deputy Head of the Egyptian Tax Authority, reaffirmed the Ministry of Finance and the Tax Authority's dedication to addressing challenges faced by the tax community. Detailed plans are being developed to build mutual trust and ensure transparency. Sakr also emphasized the importance of issuing a tax policy document promptly to reassure investors. Existing tax incentives and benefits stipulated by other laws will remain intact, providing stability for investment decisions. Looking ahead, the authority's vision includes continuing digital transformation efforts initiated in 2018. Goals include achieving tax justice, enhancing transparency, and unifying tax procedures across all departments. Electronic auditing will play a key role in reducing arbitrary assessments and streamlining processes for taxpayers. The authority's electronic systems have significantly improved the monitoring and management of parallel economy transactions, contributing to accurate data collection. Sakr confirmed that directives from the Minister of Finance prioritize resolving disputed files and moving toward full automation of tax procedures. Implementation across departments and committees ensures a smooth transition to the new SAP system. Mohanad Khaled, Managing Partner at BDO Khaled & Co., highlighted the challenges faced by the business community concerning the tax system. He acknowledged the positive impact of recent automation measures on the tax system. The primary objective of this meeting is to foster cooperation among the business community, investors, and the Tax Authority. By doing so, we aim to reassure investors, allowing them to focus on the future of their investments without concerns about abrupt tax decisions that could disrupt their progress and lead to additional costs. This collaborative effort creates a fertile environment, ensuring stability for existing investments and attracting new ones.
