CAIRO – Egyptian Finance Minister Mohamed Maait said his ministry is mulling new tax facilitations that will exempt financiers from paying part of their delay fines or additional tax in return for paying in full their principal tax dues by June 30.
The move comes as part of State efforts to boost economic activities and ease the negative repercussions of the current global crisis promoted by the outbreak of coronavirus and the launch of the Russian military operation in Ukraine, the minister said in a statement.
The proposed law, Maait said, will help stimulate investments and boost production, export and industrial sectors.
It comes in response to financiers and business community’s requests to ease some financial and tax burdens placed on them by giving them a chance to get rid of their tax arrears and settle their stumbling conditions, he added.
Head of Tax Authority Reda Abdel Qader urged all financiers to benefit from the current chance and pay their taxes in full by June 30.