Sunday 22 Dec
Finance Minister Ahmed Kouchouk emphasized that the fiscal and tax policies are increasingly focused on bolstering investment, driving economic growth, and supporting the private sector. He underscored the government's commitment to fostering trust and collaborative partnerships between revenue authorities, the business community, and financial institutions.
Speaking at the opening of the annual "Habi" newspaper conference, Kouchouk announced the full implementation of the first package of tax incentives during the current fiscal year. He also highlighted the engagement of independent third parties to assess the progress of tax reforms and ensure the effective and targeted application of streamlined procedures.
Kouchouk revealed that a pilot
phase of the centralized electronic clearing system has commenced to improve
liquidity for investors. He noted the availability of a simplified tax system
for businesses, professionals, and entrepreneurial ventures with annual
revenues up to 15 million Egyptian pounds.
The Minister emphasized that
financial policies will be more transparent, balanced, and impactful on economic
activity, prioritizing the needs of the business community. He stated that the
government is currently developing ambitious and stimulating initiatives with
clear, measurable targets.
The Minister stated that the
government is working closely with the Ministry of Investment and International
Trade to develop a robust, comprehensive, and stimulating program for the
export sector in the upcoming fiscal year. He emphasized the government's
commitment to reducing both domestic and foreign government debt through a
comprehensive and consistent strategy by the first quarter of 2025.
Kouchouk concluded by stating that preliminary indicators of financial performance remain positive despite global and regional economic challenges, reflecting the government's dedication to maintaining fiscal discipline and economic stability.
