The Egyptian Tax Authority, led by Rasha Abdel Aal, is enhancing its partnership with the business community to eliminate obstacles and foster growth. The authority is launching a tax facilitation package and various reforms, including legislative changes to support small enterprises. The focus is on transparency, collaboration, and building a positive perception among taxpayers.
Rasha Abdel Aal, Head of the Egyptian Tax Authority (ETA), expressed the authority’s commitment to enhancing collaboration with the business sector. She remarked on the Minister of Finance’s ongoing guidance in tackling business challenges and streamlining tax processes. The ETA aims to identify obstacles faced by businesses and is dedicated to developing effective solutions alongside them.
During a seminar hosted by the American Chamber of Commerce in Cairo, Abdel Aal highlighted the importance of transparency and cooperation. “We operate on a partnership principle with the business community to remove obstacles and support its growth,” she stated, emphasizing a collaborative approach.
Abdel Aal also indicated a shift in public perception of the tax authority, announcing, “We are embarking on a new chapter, extending our hands to our taxpayer partners and welcoming your support and engagement. We will work together to build a fair and transparent tax system.”
To improve fairness and accessibility, the ETA unveiled its first tax facilitation package, which includes 20 essential provisions aimed at benefiting businesses and resolving ongoing tax issues. The parliament supports these initiatives by implementing new tax incentives and facilitation laws.
The ETA is moving to implement reforms rapidly, including changes to the Small Enterprises Law. Noteworthy adjustments include raising the threshold for small enterprises from EGP 15m to EGP 20m, and postponing the first tax audit for five years. Additionally, proportional treatment for income tax has been introduced to enhance trust in the tax system.
The reforms allow a five-year period (2020–2024) for submitting amended tax returns and cap late penalties at 100% of the original tax amount. To bolster taxpayer support, the ETA has expanded the Investor Support Unit and created two new units, one for Advance Tax Rulings and the other for Complaints, both reporting directly to the Head.
The Egyptian Tax Authority is actively working to strengthen partnerships with businesses to streamline tax processes and enhance transparency. The newly introduced tax facilitation package and legislative amendments reflect a commitment to improving the business environment, ensuring fairness, and fostering a collaborative relationship with taxpayers. These initiatives are designed to build trust and support business growth throughout Egypt.
Original Source: www.dailynewsegypt.com
