Parliament approves new law to bypass 65% of fines and interest on tax arrears

Sun, 17 Jul 2022 - 12:49 GMT

“The door will be opened for filing tax disputes after the end of the Eid al-Adha holiday, and until the end of December of this year; this will help alleviate the burdens on the productive sectors in light of the negative repercussions of the war in Europe,” the Finance Minister said.

Tax revenues record LE 816B in 11 months

Mon, 27 Jun 2022 - 05:26 GMT

Tax receipts from sovereign authorities increased by about LE 12.3 billion, or 11.8 percent, to reach LE 117 billion during 11 months, compared to about LE 104.7 billion during the same period of the previous fiscal year.

Egypt aims to exceed its tax revenue to surpass LE1T in 2022/23

Mon, 09 May 2022 - 02:24 GMT

Egypt aims to achieve tax revenues of LE 1.16 trillion during the next fiscal year, compared to expected tax revenues of LE 983.01 billion during the current fiscal year.

Tax Authority urges companies to quickly join e-invoice system

Thu, 21 Apr 2022 - 11:15 GMT

Reda Abdel Qader, chairperson of the authority, called on the companies obligated to join the system in its seventh phase, to quickly implement the registration procedures as well as obtain the electronic stamp before June 15.

Egyptian president instructs government to prepare bundle of financial measures to face global economic downturn

Mon, 21 Mar 2022 - 11:02 GMT

While checking the FY2022/2023 draft budget, President Abdel Fatah al-Sisi instructed the government to immediately prepare a bundle of financial and social protection measures.

1st field campaign launched to provide free technical support for tax payers

Sun, 20 Feb 2022 - 01:45 GMT

In a press release on Sunday, he added that this comes within the finance minister’s directives in which the campaign will start in Gharbiya governorate.

Details of draft law amending some provisions of Egypt's Income Tax Law

Wed, 02 Feb 2022 - 12:50 GMT

The first tranche: Up to an amount of LE 250,000, an amount of LE 1,500 will be obtained.

E-invoice system an important step to digital transformation to achieve Egypt's Vision 2030

Wed, 05 Jan 2022 - 03:16 GMT

Abdel Kader added that they are continuing to complete all stages of the system within the specified times.

Egyptian Tax Authority warns those who engage in e-commerce activity without license

Sun, 02 Jan 2022 - 11:01 GMT

Abdel Kadir pointed out that some merchants and sellers on some electronic platforms practice e-commerce activity, without having tax files for them at the authority.

Tax evasion campaigns continue, says Maait

Thu, 30 Dec 2021 - 06:11 GMT

He expounded that magnifying revenues would reduce the budget deficit, public debt and inflation rates.

Egypt to exempt tax to support industry, stimulate economic growth in “value-added” amendments

Mon, 13 Dec 2021 - 03:47 GMT

It added in a statement that the amendments aim to address some of the problems that have emerged during the practical application of the provisions of this law.

Egypt announces signing int'l agreement on tax of giant technology companies next June

Sun, 28 Nov 2021 - 01:35 GMT

It contributes to addressing the tax challenges arising from the digitization of the economy, so that multinational companies pay a fair share of taxes wherever they operate and generate profits in different countries of the world, Youssef clarified.

Egypt aims to increase tax revenues by 2% of GDP in 4 years

Wed, 24 Nov 2021 - 06:19 GMT

Maait clarified that this is the result of the careful implementation of harmonious and balanced financial and economic policies.

Total number of companies applied to e-invoice system hit 4.2K, 5th phase to start on Dec.15

Sun, 21 Nov 2021 - 12:38 GMT

Abdel Kader said in a statement, Sunday that more than 82 million electronic invoices have been sent to the system since its activation until now.

Egypt applies taxes on bloggers, youtubers with LE 500K revenues

Sun, 26 Sep 2021 - 12:44 GMT

Abdel Kader clarified that the Ministry of Finance is closely following the Tax Authority to list transactions that take place through electronic platforms, and determining who does them, to include informal economy of the official system, and to reclaim the rights of the state’s public treasury.

Finance min.: Automating real estate tax management system to facilitate access to access to e-services

Tue, 04 May 2021 - 03:03 GMT

This step is also in line with Egypt's Vision 2030 and the country's digital transformation strategy, the Finance Ministry said in a statement on Tuesday.

Egypt launches tax solution company "E-Tax"

Tue, 06 Apr 2021 - 02:22 GMT

This came in the presence of Deputy Minister for Public Treasury Affairs, Ehab Abu Aish, and Deputy Minister for Financial Policy and Institutional Development Ahmed Kojak.

Egypt denies imposing new taxes after increasing minimum wage

Tue, 16 Mar 2021 - 01:13 GMT

Maait said in a TV interview that the state will continue to increase the tax collection by expanding the base of financiers and improving the collection mechanism.

Sisi approves Egypt's accession to Tax Base Erosion Prevention Agreement

Thu, 04 Mar 2021 - 01:36 GMT

The agreement is related to preventing the erosion of the tax base and the transfer of profits, approved in Paris on November 24, 2016, and signed by Egypt on June 7, 2017.

Egyptian gov't reviews cases exempted from real estate disposal tax

Sun, 28 Feb 2021 - 02:48 GMT

Cases exempted from the tax on real estate transactions according to the law, are "providing the property as an in-kind share in exchange for a share in the capital of a joint-stock company, provided that the corresponding shares are not disposed of for a period of five years."