The industries federation tax committee has asked Egypt's ruling military council and Minister of Finance Samir Radwan to reduce sales tax to 10 percent instead of 25 percent. This will help to develop industry and support the Egyptian economy, the committee said. High sales tax has harmed Egyptian industrial sectors, it said. Companies have stopped dealing in the Egyptian markets because the sales tax reaches 25 percent, which is a quarter of the product's value. The industries federation tax committee discussed many issues related to the industrial sector dealing with the tax department such as late tax checking and sales tax. The committee head, Mohamed el-Bahi, said the tax department must check the taxes just after the fiscal year finished, so the companies can avoid penalties. The committee has discussed taxes of the sectors which can not get bills for their products such as cinema, grain, nonstructural materials and leather tanning sectors. These sectors' taxes include whole profits without regarding the expenses. El-Bahi suggested the sectors hold meetings for the tax and industrial sectors specialties in order to find out a prospective to solve such sectors taxes.
