Speaking at an iftar banquet hosted by the Alexandria Business Association, Kouchouk said the government’s economic ministerial group is working in close coordination, reflecting a shared commitment to expanding the role of the private sector in Egypt’s economy.

 

He added that the government is pushing forward with deeper partnerships with the private sector and is optimistic about its swift response to investment-stimulating initiatives.

 

Private investments rose by 73% in the last fiscal year and grew by 42% in the first quarter of the current fiscal year, Kouchouk said, describing the figures as evidence of strong positive momentum within the business community.

 

Kouchouk pointed out that the first package of tax facilitation measures has demonstrated the private sector’s willingness to partner with revenue authorities to support investment in Egypt.

 

More than 600,000 taxpayers voluntarily submitted new or amended tax returns, paying additional taxes amounting to about EGP 80 billion and disclosing business activities worth around EGP 1 trillion, he added.

 

Tax revenues increased by 35% last year and by 31.5% in the first eight months of the current fiscal year without any changes in tax rates, the minister affirmed.

 

He noted that more than 40 community dialogue sessions had been held on the second package of tax facilitation measures, aimed at easing burdens on partners in the private sector.

 

The government will introduce a “VIP Card” for compliant taxpayers, granting priority in tax refunds, audits, advance rulings and other services, he said.

 

Kouchouk also clarified that soft, low-cost financing will be made available for the first 100,000 businesses joining the simplified tax system.

 

Three advanced tax service centers will also be launched and operated by e-Tax Company to provide selected tax services on behalf of the Egyptian Tax Authority, he added.

 

The government will also address double taxation on dividend distributions between subsidiaries and holding companies.

 

In addition, incentives are being prepared to encourage mega companies to list and trade on the Egyptian Stock Exchange.

 

Kouchouk said a mobile application will be launched for real estate transaction tax, allowing notifications, filing of tax returns and electronic payment.

 

Individuals will also be exempted from real estate transaction tax when selling property to first-degree relatives, he indicated.

 

The government will reduce value-added tax on medical equipment and machinery from 14% to 5% to support expansion in the healthcare sector, while e-payment and collection services will be exempt from VAT in line with similar services.

 

He stated that returns on foreign loans will be deductible from the tax base for private sector companies participating in strategic projects.

 

The government will also issue a guide for administrative seizure procedures and unify airport departure fees, he affirmed, in a move aimed at strengthening trust, partnership and justice within the tax community.

 

For his part, Mohamed Hanno, chairman of the Alexandria Business Association, said the participation of the ministers of finance and industry, along with several heads of economic authorities and business leaders, reflects ongoing communication and coordination between the government and the private sector.

 

He stressed the importance of continued cooperation between both sides to achieve economic development goals.

 

Hanno added that the association supports the government’s program to build a competitive economy attractive to investment, particularly through promoting investment and foreign trade.

 

The association is working to expand its network and build partnerships with international institutions to support investment flows and trade exchange, he confirmed.

 

He also praised the government’s efforts to boost economic activity, noting that they have led to positive indicators and improved coordination among government bodies.

 

However, he explained that significant economic opportunities remain available, and capturing them will require further institutional development, improved efficiency of government agencies and faster digital transformation.