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At a seminar organized by the Egyptian-Lebanese Business Association in cooperation with the Egyptian Tax Authority, the head of the Tax Authority, Rasha Abdel Aal, announced that the Egyptian government is focusing on expanding partnerships with the business community. The goal is to offer exceptional support within the “framework of “starting a new chapter” “starting a new chapter” framework with business partners.
The Egyptian Tax Authority has proactively introduced new tax facilities to ease procedures and attract more investment to Egypt. The first set of these tax facilities has aimed to resolve disputes among all taxpayers. Rasha Abdel Aal emphasized that the Tax Authority is committed to ensuring the success of these initiatives and is actively working with the Egyptian-Lebanese Business Association to implement them. She also underscored the importance of cooperation between the private sector and the government to enhance economic growth.
The Tax Authority has introduced several support units, including the Investor Support Unit, which helps with tax consultations and feasibility studies. These units, which report directly to the head of the Tax Authority, are designed to facilitate tax procedures and provide businesses with reliable and accurate guidance.
The first package of tax incentives targeted resolving disputes among taxpayers. Based on feedback from business partners, the Egyptian government is preparing for further rounds of tax reforms to continue improving the tax environment and attract more investment. These reforms have already contributed to a significant increase in tax revenue, with a reported 40% rise without imposing additional burdens.
Engineer Fathallah Fawzi, Chairman of the Egyptian-Lebanese Business Association, expressed that these tax incentives present an excellent opportunity for the growth of small and medium-sized enterprises (SMEs) and emphasized the role of the private sector as a key partner in economic development. Fawzi also acknowledged the efforts of the Egyptian Tax Authority in simplifying procedures and aligning with economic developments to attract more investments and foster growth.
Ramay Fathallah, Chairman of the Tax and Financial Committee of the Association, noted a fundamental shift in the relationship between taxpayers and the Tax Authority, highlighting improved policies and the rebuilding of trust. This shift has led to a wider tax base, easier procedures, and the integration of a significant portion of the informal economy into the formal economy.
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