The economic group is one team that works in harmony and consistency and is open to studying all economic matters.

• There is another ministerial group concerned with studying the best social protection policies and programs.
• We are dealing with the inflationary wave within the framework of an integrated and consistent program and policies in coordination with the Central Bank and all state agencies.
• The government will work to enhance strong and fair competition in the Egyptian market, allowing goods and services to be available in appropriate quantities, and serving the interests of citizens.
• We have many programs in the budget, and we will work to raise their efficiency and effectiveness to serve low- and middle-income people.
• We will deal with internal and external challenges with the greatest degree of flexibility, and we will work to raise the efficiency of managing reserves in the budget.
• We reduced the size of the external debt of the budget agencies last year, and we will focus during the coming period on introducing new financing tools in the local market.
• We will focus on soft financing from financing institutions, while targeting the trend towards new tools and markets.

The Minister sends positive messages to the business community:

• The top priority in the coming period is to carry out a comprehensive development in the tax system to achieve a tangible improvement in the quality of services provided and regain confidence with the business community and build a real partnership.
• We are working on an integrated package to govern and improve services and the relationship between investors and the Tax Authority.
• A new era is built on the achieved advanced technological structure, and we will focus on developing services and procedures in a way that satisfies and appreciates our partner "the tax community".
• We will not evaluate ourselves, otherwise we will rely on specialized and neutral entities, and most importantly, the satisfaction of taxpayers.

Sherif Al-Kilani, Deputy Minister for Tax Policies:             

• We will focus during the coming period on maximizing efforts to integrate the informal economy.
• We are working to achieve tax justice, competitive neutrality and achieve tax stability.
• Expanding the tax base and improving the relationship with taxpayers by developing the level of services, simplifying and automating procedures.

Commissioner of the Tax Authority:

• 1 trillion and 482 billion pounds in tax revenues during the past fiscal year, with an increase of 343 billion pounds and a growth rate of 30% as a result of automation and raising the efficiency of the tax administration.
• Electronic tax systems have begun to help us govern the tax community.
• The application of the risk cases system on electronic invoices and receipts has contributed to reducing tax losses by about 44 billion pounds.
• The number of documents sent on the electronic invoice system has exceeded one billion documents at a rate of nearly 40 million documents per month.
• The number of electronic receipts sent since the start of the application of this advanced system has exceeded 590 million receipts.
• We aim to complete the generalization of the system for unifying the standards for calculating the wages and salaries tax next December.

 

 

Minister of Finance, Ahmed Kouchouk, assured that a sound assessment of the economic situation requires a comprehensive objective and analytical vision to ensure integrated and sound dealing with global, regional and local challenges, and that the economic group is one team that works in harmony and consistency and is open to studying all economic matters, adding that there is another ministerial group concerned with studying the best social protection policies and programs.

 

The Minister added, in response to journalists' questions, during the press conference to announce the financial performance results for the year 2023/2024, that we are dealing with the inflationary wave within the framework of an integrated and consistent program and policies in coordination with the Central Bank and all State agencies, explaining that the government will work to enhance strong and fair competition in the Egyptian market, allowing the availability of goods and services in appropriate quantities, which is in the interest of citizens.

 

The Minister pointed out that we have many programs in the budget, and we will work to raise their efficiency and effectiveness to serve low- and middle-income people, and we will deal with the greatest degree of flexibility with internal and external challenges, and that we will work to raise the efficiency of managing reserves in the budget, noting that we reduced the size of the external debt of the budget agencies in the previous year, and we will focus during the coming period on introducing new financing tools in the local market, as we will also focus on soft financing from financing institutions while targeting the trend towards new tools and markets.

 

The Minister sent positive messages to the business community, saying: “The top priority in the coming period is to carry out a comprehensive development of the tax system to achieve a tangible improvement in the quality of services provided, regain confidence with the business community, and build a real partnership. We are working on an integrated package for governance and improving services and the relationship between investors and the Tax Authority, in order to start a new era that builds on the advanced technological infrastructure that has been achieved, and we will focus on developing services and procedures in a way that satisfies and appreciates “our partner”, the tax community. We will not evaluate ourselves and will rely on specialized and neutral entities, as a top priority is the satisfaction of taxpayers.”

 

Sherif El-Kilani, Deputy Minister for Tax Policies, indicated that we will focus during the coming period on maximizing efforts to integrate the informal economy, which contributes to achieving tax justice and competitive neutrality, stressing that we are working to achieve tax stability, expand the tax base, and improve the relationship with taxpayers by developing the level of services, as well as simplifying and automating the procedures.

 

Rasha Abdel Aal, Head of the Tax Authority, confirmed that tax revenues during the past fiscal year amounted to EGP 1 trillion and 482 billion, with an increase of EGP 343 billion and a growth rate of 30% as a result of automation and raising the efficiency of tax administration, explaining that electronic tax systems have begun to help us govern the tax community. She added that applying the risk cases system on electronic invoices and receipts contributed to reducing tax losses by EGP 44 billion, noting that the number of documents sent on the electronic invoice system exceeded one billion documents at a rate of nearly 40 million documents per month, and the number of electronic receipts sent since the beginning of the implementation of this advanced system exceeded 590 million receipts, aiming to complete the generalization of the system for unifying the standards for calculating wages and salaries tax next December.