• A model of Tax returns for grocer and bakeries.
• Mechanism for the settlement of tax disputes prior to the issuance of the current tax law.
• Proceeds of the sales and income taxes to jump from 65 billion to 165 billion pounds in 4 Years.

Dr. Youssef Boutros Ghali, Minister of Finance issued the basis of taxation for small enterprises to be a guidance for the tax accounting  to make it easy for the owners who  the tax law has exempted them from hold regular tax books and minister announced that he would be issued soon, also a tax model for business enterprise that deal in commodities priced compulsory, such as bakery and grocer as the tax models for the insurance companies, banks and hotels.

This came during a meeting of the Minister of Finance with Mohamad al-Masri, Chairman of the Board of Directors of the General Federation of Chambers of Commerce and members of the Board of Directors in the attendance of Mr. Ashraf elaraby, head of the Egyptian tax.

The minister said that as part of government's keenness on the facilitation and support small-scale activities not to be inconsistent with the law there will not be compulsion to hold a regular books for small businesses which there net profit is less than twenty thousand pounds or less or their capital is less than fifty thousand pounds or turnover of less than 250 thousand pound noting that these enterprises will be accounting in the basis of the tax accounting which will be issued soon.

The minister said that according to the articles of the law, the medium-sized enterprises that its profits is more than  twenty thousand pounds, will stick to the books constipate very simple in order to facilitate on them , which the owners must be careful to keep this books in order to ensure the safety of the financial position of their enterprise companies but the large enterprises, it constipate to holding tax books in accordance with Egyptian Accounting Standards.

The minister agreed to  reopening of the tax offices in chambers of commerce and supply-trained cadres of workers taxes to help traders to submit tax returns and answer any questions for them.

(Source Ministry of Finance)