Ahmed Kouchouk, Minister of Finance, announced significant reforms aimed at improving tax services, with the first package of tax facilities set to be fully implemented by the end of the current fiscal year. These measures, he emphasized, will foster a new era of trust, partnership, and certainty between the business community and the Tax Authority. Speaking during a meeting with the Republican People's Party's parliamentary bloc in the Administrative Capital, Kouchouk highlighted several initiatives designed to enhance the business environment. "We have developed a sample inspection system for all taxpayers and have launched an experimental central electronic clearing system for government dues and debts," he explained. "This system is intended to build confidence with our partners, facilitate their operations, and improve cash liquidity."
The Minister also outlined plans to gradually integrate the informal economy, focusing on improving tax systems and offering greater support to small, medium, and large enterprises. "Our goal is to ensure that investors achieve substantial profits within a clear framework of rights and obligations, paving the way for a productive partnership with the Tax Authority," Kouchouk said.
Furthermore, he emphasized the Tax Authority's initiative to revise administrative decisions and instructions as a clear signal of the government's commitment to boosting the investment climate. "We strongly believe in the private sector's potential to drive growth, and we will continue to support it within the Egyptian economy," he affirmed, noting ongoing collaboration with the Minister of Investment and Foreign Trade to reduce fees and unify collection agencies.
The Minister also pointed to the growing demand for public-private partnerships, particularly in the service sectors and renewable energy, driven by the state's limitations on public investment. The Ministry aims to increase spending on human development and social protection, alongside expanding programs to stimulate and support productive activities. Kouchouk stressed that the simplified tax system demonstrates a deep understanding of the importance of nurturing entrepreneurship, especially in the realm of digital exports. He highlighted the significant growth of information technology service exports and emphasized the need to further stimulate this sector. "Our export program for the upcoming fiscal year is ambitious, aiming to diversify and expand exports while tapping into new markets," he stated.
Additionally, Kouchouk highlighted the role of the medium-term budget framework in enhancing the efficiency of public spending and improving services for citizens. "We are committed to fostering a national dialogue, especially with young people, to refine our priorities and achieve key targets for citizens, investors, and the broader Egyptian economy," he concluded.
The meeting was attended by senior officials, including Sherif El-Kilani, Deputy Minister for Tax Policies; Ahmed Abdel Razek, Permanent Undersecretary of the Ministry of Finance; Rami Youssef, Assistant Minister for Tax Policies and Development; Rasha Abdel Aal, Head of the Egyptian Tax Authority; and various other political and governmental figures.
