Minister of Finance Ahmed Kouchouk said that voluntarily expanding the tax base creates significant opportunities to stimulate investment, while also boosting spending on key sectors such as health, education, and social protection.
During talks with the President and members of the Egyptian Tourism Federation (ETF), Kouchouk remarked, “The most beneficial aspect is the growth of the economy, the expansion of the business community, and mutual gains, all within a framework of strong trust and partnership.”
He added, “Our efforts and initiatives are grounded in the business community. Together, we will overcome tax challenges with practical and straightforward solutions.”
Kouchouk expressed confidence in the evolving tax culture within the Tax Authority, noting the positive response from the business community to the facilitation measures.
The minister explained that the second package of tax facilitation measures focuses on supporting long-term, committed partners through additional incentives, simplification, and process ease.
For the first time, certain tax services will be available through the “E-Tax” platform, providing a more streamlined experience.
He stressed that the simplified and integrated tax system would remain in place, offering unprecedented incentives to attract new voluntary taxpayers.
Kouchouk highlighted the introduction of a new simplified tax system for businesses with revenues not exceeding EGP 20 million.
“We want them to grow, profit, and expand,” he said, adding that financing facilities would be available for the first 100,000 taxpayers who join this system.
Addressing the issue of tax duplication between holding companies and their subsidiaries, Kouchouk revealed plans to replace the capital gains tax with stamp duty, aimed at encouraging trading by local investors on the Egyptian Stock Exchange.
Regarding real estate taxes, Kouchouk confirmed that the property transaction tax for individuals will remain at 2.5% of the unit’s sale price, regardless of the number of transactions.
He also announced the launch of a mobile application for electronic notification and payment of real estate transaction taxes, making the process more flexible and accessible.
The minister also unveiled a new “Distinguished Taxpayer Card” for compliant taxpayers, offering additional incentives and support.
He referred to the upcoming launch of an electronic offset system between tax liabilities and dues to further simplify the process for taxpayers.
