35% increase in tax revenues thanks to the business community's response to our track of partnership, certainty, and confidence

Minister of Finance, Ahmed Kouchouk, affirmed that without the confidence of the business community in the track of support and partnership launched by the Ministry, tax revenues would not have increased without imposing new burdens, and we would not have been able to increase spending on everything that matters to citizens, including health, education, support, social protection, and other vital sectors.

 

At a press conference to review the financial performance results for the fiscal year 2024/2025, Kouchouk said that tax revenues increased by 35% during the past fiscal year as a result of the business community's response to our track of partnership, certainty, and confidence.

 

The Minister added that the results of tax facilitations package throughout the past six months have been encouraging, prompting us to continue the journey and launch successive packages of facilitations. He explained that approximately 402,000 have requested settlement of tax disputes, and 107,000 have voluntarily joined the simplified system to date.

Approximately 650,000 new and amended tax returns have been submitted voluntarily, with an additional tax of EGP 78 billion.

 

The Minister explained that a new package of tax facilitations will be rolled out in the coming period for our partners (taxpayers) within the framework of targeting to support economic activities. He pointed out that tax facilitations reduce burdens and obligations, and that confidence and certainty with the business community encourages voluntary compliance.

 

He emphasized that we always aim to provide simplified, unified, and fair services to attract new taxpayers.

 

"We are working diligently to resolve disputes amicably, to quickly refund VAT, as well as to streamline procedures. Furthermore, we have an advanced risk management system," said Kouchouk.