Head of the new tax authority, Mahmoud Mohamed Aly has announced that tax returns have markedly increased following the overhaul of the tax department in line with internationally styled tax systems. ...

Head of the new tax authority, Mahmoud Mohamed Aly has announced that tax returns have markedly increased following the overhaul of the tax department in line with internationally styled tax systems.  Tax returns have registered a 40% increase and the tax base on income has soared to 227%.  Mr. Aly added that one law is currently drafted to  regulate the financial  procedures for both the income  and sales tax laws. Mr. Aly has made his statements at the inauguration of the tax training center staged by the tax authority for training 5500 sales and income tax employees over a nine month period. The tax authority chairman explained that the merging of both tax authorities has proved a strategic element for upgrading the establishment.  The tax authority has also moved ahead with plans to set up three tax districts for the middle and higher brackets with businesses at 150,000 pounds or less and businesses exceeding three million pounds respectively.  Another tax district will be set for the low brackets.  More plans are underway to redefine the job descriptions within the tax authority to streamline the working the process.(Source: Al-Ahram)