Dr. Ghali has issued samples for tax returns on income tax
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Minister of Finance Dr. Youssef Boutros Ghali has issued samples for tax returns on income tax to include salaries and real estate, salaries, real estate and non commercial professions, commercial and industrial profits with documentation, commercial and industrial profits without documentation and comprehensive returns for all kinds of taxpayers.
The taxpayer is charged with choosing the more convenient return that properly reflects his/her business as individuals, banks and insurance companies and drilling and production of oil companies.
The tax returns will be available free to be filled and returned prior to March 31st 2007. The aim of the issuance is to streamline the work process with minimal steps to avoid flaws and ensure that tax laws are being applied.
Dr. Ghali said that tax districts will act as councilors to taxpayers at the filling out of tax returns. Guidelines have also been installed to facilitate the manner of reading and filling out of details in tax returns which have already been simplified.
Minister Ghali pointed to an addition related to the long term calculation of tax and sound means for the calculation of discounts in tax returns and listing them as costs.
(source: Ministry of Finance)
