The Egyptian Tax Authority (ETA) has signed a cooperation protocol with the Egyptian-Chinese Business Association to enhance voluntary tax compliance and foster a stable business environment conducive to economic growth. This initiative aligns with directives from Minister of Finance Ahmed Kouchouk to strengthen partnerships between the Tax Authority and the business community, streamline tax procedures, and enhance the overall investment climate. Rasha Abdel Aal, head of the Egyptian Tax Authority, described the protocol as a foundation for a long-term, strategic partnership with the Egyptian-Chinese Business Association. She emphasized that this collaboration aims to remove obstacles for Chinese businesses operating in Egypt, ensuring their stability and long-term success in the local market. "We are committed to providing full support and facilitation for investors. The coming period will witness increased cooperation and dialogue with the business community to resolve tax-related challenges and create an investment-friendly environment," Abdel Aal stated. She highlighted that the initiative aligns with Egypt's first-phase tax relief package, which seeks to simplify procedures, reduce disputes, and introduce business incentives to drive investment and economic expansion. As part of its commitment to fostering a conducive investment climate, the Tax Authority will enhance communication channels with Chinese investors through regular meetings to address concerns and develop effective solutions. Abdel Aal stressed that this proactive approach will support productive investments, bolster Egypt's economic competitiveness, and contribute to sustainable development. The cooperation protocol includes several key measures to assist the business community. The Egyptian Tax Authority will provide advisory services to association members, hold regular briefings on tax updates, organize workshops to raise tax awareness, and publish periodic bulletins outlining tax benefits and incentives for investors and exporters. Additionally, efforts will be made to simplify tax refund procedures and provide expedited solutions for exporters, further strengthening Egyptian exports and opening new market opportunities. To ensure the protocol's successful implementation, a joint committee comprising representatives from the Tax Authority and the Egyptian-Chinese Business Association will be established. This committee will address tax-related challenges faced by Chinese investors and propose practical solutions within Egypt's legal framework. Regular meetings will be held to monitor progress and resolve any issues related to tax obligations. Abdel Aal also underscored the role of the Investor Support Unit in resolving investor challenges. As part of the current tax relief initiative, the unit has been reinforced with specialized technical experts, enhancing its efficiency and impact in addressing investor concerns. Magd El-Manzalawi, Chairperson of the Egyptian-Chinese Business Association, reaffirmed the importance of continued collaboration with the Egyptian Tax Authority. He praised the authority's efforts in supporting the business community through tax facilitation measures that create a stable and attractive investment environment. El-Manzalawi expressed his appreciation for the Egyptian Tax Authority's leadership and commitment to addressing business and investor challenges. He highlighted that these efforts strengthen taxpayer confidence in the Tax Authority as a strategic partner rather than merely a tax collection entity. He also commended the authority's approach to providing technical and advisory support, simplifying tax procedures, and ensuring fairness in tax administration. He further emphasized the association's dedication to promoting commercial and industrial investments between Egypt and China. The Egyptian-Chinese Business Association actively supports investment initiatives by building a strong network of Egyptian and Chinese entrepreneurs, facilitating cooperation, and contributing to the development of innovative ideas in industry and trade. Additionally, the association seeks to create a positive economic climate and support business decision-making within an ethical and productive framework.
