New app to streamline tax returns and payments
Egypt’s Minister of Finance, Ahmed Kouchouk, has said the government is moving on several fronts to expand tax, customs, and real estate facilitation measures to ease burdens on investors and citizens and stimulate economic activity.
“We support any initiatives that encourage production, investment, and exports,” the minister said during a meeting with a group of investors on Friday.
“Our goal is to broaden the economic and tax base so that we can provide greater support to taxpayers and citizens.”
Minister Kouchouk announced that the government is developing a modern and integrated real estate tax system focused on simplifying procedures and expanding digital services. A new mobile application will be launched to allow taxpayers to receive notifications, submit tax returns, and make payments electronically.
He added that property owners will be allowed to submit a single declaration even if they own multiple buildings and deal with only one tax office. The exemption threshold for private housing will also be raised to LE8 million.
To encourage voluntary registration, the government will grant tax incentives, including a 25 per cent discount for residential units and 10 per cent for non-residential properties, the finance minister told the meeting.
The minister also revealed plans to replace capital gains tax on stock market transactions with a stamp duty to encourage institutional investment in the Egyptian Exchange, noting that the Ministry of Finance is working with the Financial Regulatory Authority to introduce further tax incentives to support listings and trading.
In addition, value-added tax on medical equipment will be reduced from 14 per cent to 5 per cent to support the expansion of Egypt’s comprehensive health insurance system.
Kouchouk said the new measures are part of a broader effort to improve the business climate, simplify tax procedures, and encourage greater participation in the formal economy.
