" I assure you all that we are aware of the tax and customs challenges, and we will work with all our efforts to improve the conditions "

We will work together to promote and develop the role of the private sector, support it for international competition, and create appropriate job opportunities for our youth.

We do not imagine or claim that “everything is fine”, but we extend our hands with trust, partnership and support to the taxpayers for a real reform that serves our country and our youth

We seek to create a positive situation among taxpayers, based on realistic solutions while granting exceptional benefits to expand the tax base voluntarily. 

We have started by introducing 20 measures that pave the way for a tangible improvement in the tax reality that serves large, medium and small taxpayers.

We were keen on a realistic reading of the challenges and, together with the business community, we developed some consistent solutions. We are working on implementing them accurately and using modern communication to clarify our vision.

We work to provide all the elements for the good application of tax procedures and facilities to facilitate and simplify the tax system.

Motivating human cadres, whether through training, qualification, or through reward systems linked to performance that achieves “tax community satisfaction”

The return of the sample inspection system for all taxpayers in the tax centers, directorates and tax offices starting from the current tax season is a strong message of the return of our confidence in our partners

Launching the electronic system for clearing between investors’ dues and debts next month to provide them with cash liquidity

Coming soon… exceptional solutions to end all tax files and disputes until 2020

The simplified tax system for small taxpayers aims to support start-ups and entrepreneurial projects to grow and compete.

Our financial and tax policies are integrated with the government’s economic priorities to enable the private sector to lead the path of growth and development

Our initial vision for the first package of real estate tax facilities will be presented next month, and customs facilities before the end of the year 

We seek to develop the role and impact of financial policies in driving economic activity and creating a financial space that allows for increased spending on health, education and social protection.

Improving governance of economic performance by setting a ceiling on public investment, general government debt and guarantees

For the first time in years, the percentage of private investments to total investments rose to 63%, and we announced 17 projects for partnership with the private sector during the first half of the year. 

We are moving with an integrated strategy to reduce debt, inflation and external debt rates to remove the "black cloud that obscures the unprecedented development achievements that Egypt is witnessing"

We used the proceeds of the Ras El Hekma deal efficiently, which contributed to increasing foreign exchange reserves, reducing the budget agencies’ debt to 89% of GDP, and decreasing the volume of external debt by about $3 billion.

Ahmed El Wakil, Chairman of the General Federation of Chambers of Commerce:

We are witnessing positive moves by the Minister of Finance that reflect his openness to the business community to create an attractive investment environment

We have seen great conviction from the leaders of finance, taxes and customs on development and reform to simplify procedures.

Supporting the “flexible reform path adopted by Kuochouk” to build mutual trust between the Tax Authority and business community

Attracting investments and developing exports will only be achieved by achieving competitive neutrality and deepening industry.

 

 

 

Minister of Finance, Ahmed Kouchouk, expressed his great happiness with the dialogue with investors in Alexandria through the historic platform of the Chamber of Commerce, which bears witness to the long history and leadership of the Egyptian business community .

 

“I assure you all that we are aware of the tax and customs challenges. We will work together with all our efforts to improve the conditions, push and develop the role of the private sector, support it for international competition, and create appropriate job opportunities for our youth ,” said Kouchouk at the first open meeting with representatives of the business community at the Chamber of Commerce in Alexandria.

 

He added that we do not imagine or claim that “everything is fine” and we extend our hands with trust, partnership and support to taxpayers for a real reform that serves our country and our youth, and we seek to create a positive situation among taxpayers based on realistic solutions while granting exceptional benefits to expand the tax base voluntarily, noting that we have begun to propose 20 measures that pave the way for a tangible improvement in the tax reality, serving large, medium and small taxpayers.

 

He pointed out that we were keen on a realistic reading of the challenges and, with the business community, we developed some consistent solutions. We are working to implement these solutions accurately and to have modern communication to clarify our vision. We are also working to provide all the elements for the good application of tax procedures and facilities to facilitate and simplify the tax system, said Kouchouk, explaining that human cadres will be motivated, whether through training or qualification or through reward systems linked to performance that achieves “tax community satisfaction”

 

The Minister stressed that the return of the sample inspection system for all taxpayers in the centers, directorates and tax offices starting from the current tax season is a strong message of the return of our confidence in our partners, noting that the electronic system for clearing between investors' dues and debts will be launched next month to provide them with cash liquidity and that very soon exceptional solutions will be provided to end all tax files and disputes until 2020.

 

The Minister said that the simplified tax system for small taxpayers aims to support start-up companies and entrepreneurship projects to grow and compete, stressing that our financial and tax policies are integrated with the government's economic priorities to enable the private sector to lead the path of growth and development.

 

He added that our initial vision for the first package of real estate tax facilities will be presented next month, and customs facilities will be before the end of the year, stressing his commitment to developing the role and impact of financial policies in driving economic activity and creating a financial space that allows for increased spending on health, education and social protection.

 

He pointed out that we are working to improve the governance of economic performance, and in this context a ceiling has been set for the state’s public investments, general government debt, and guarantees. For the first time in years, the percentage of private investments to total investments has risen to 63%, noting that 17 projects for partnership with the private sector have been announced during the first half of the current fiscal year .

 

The Minister explained that we are moving with an integrated strategy to reduce debt rates, inflation, and external debt, to remove the “black cloud that obscures the unprecedented development achievements that Egypt is witnessing,” noting that the proceeds of the “Ras Al-Hikma deal” were used efficiently, contributing to increasing foreign exchange reserves, reducing the debt of budget agencies to 89% of the GDP, and decreasing the size of external debt by about 3 billion dollars .

 

Ahmed El Wakil, Chairman of the Federation of Egyptian Chambers of Commerce, assured that we are witnessing positive moves by the Minister of Finance that reflect his openness to the business community to create an attractive investment environment, explaining that we have seen great conviction from the leaders of finance, taxes and customs to develop and reform to simplify procedures.

 

He added that the Federation of Egyptian Chambers of Commerce is keen to support the flexible reform path adopted by Minister of Finance, Ahmed Kouchouk, to build mutual trust between the Tax Authority and the business community, with the aim of boosting economic activity, enhancing productivity rates and sustainable growth, and providing more job opportunities.

 

He pointed out that attracting investments and developing exports will only be achieved by achieving competitive neutrality and deepening industry to raise local added value and thus enhance the competitiveness of the Egyptian product. This is the goal, not import substitution.