Egypt: Finance Minister denies reports of new taxes on economic activities

Egypt: Finance Minister denies reports of new taxes on economic activities

Minister of Finance Mohamed Maait has assured the business community in Egypt that the government has no intention to impose new taxes on economic activities.

Maait’s remarks came during his participation in the Egyptian Society for Taxation conference, which was held under the title, “Investment and Global Economic Repercussions, and their Impact on the Future Vision of the Tax System”.

Maait said: “We are keen on stabilizing tax policies, despite the harsh global economic challenges, as the consequences of the Coronavirus pandemic are intertwined with the negative effects of the Ukraine war, while emerging economies’ access to international markets has become more difficult in light of the uncertainty related to the war.”

He added that during the next few years, a regular conference will be held with the business community divs to announce the state’s tax policy over the next five years.

Maait affirmed the Finance Ministry’s commitment to the tax path that stimulates local and foreign investments. to move the economy in a sustainable manner; in a way that contributes to achieving high growth rates, which are reflected in laying the foundations for comprehensive and sustainable development, improving the lives of citizens and raising the level of services provided to them, and extending