During the Alexandria business Association (ABA) Annual Iftar, Minister of finance H.E Ahmed Kouchouk emphasized the government’s commitment to expanding the role of the private sector and strengthening partnerships with the business community to drive sustainable economic growth.
📊 Positive Investment Indicators
Private investments increased by 73% in the last fiscal year.
Growth reached 42% in the first quarter of the current fiscal year.
🧾 Tax Facilitation Results
Over 600,000 taxpayers submitted new or amended tax returns.
EGP 80 billion in additional taxes were paid.
Economic activity disclosed exceeded EGP 1 trillion.
Tax revenues grew by 35% last year and 31.5% in the first eight months of the current fiscal year without raising tax rates.
⚙️ Key Business Reforms
A second tax facilitation package following more than 40 community dialogue sessions.
Launch of a “Distinguished Taxpayer Card” offering priority services.
Low-cost financing for the first 100,000 businesses joining the simplified tax system.
New tax service centers and measures to address double taxation on dividends.
Additional incentives include encouraging companies to list on the Egyptian Exchange, launching a mobile app for real estate transaction tax, reducing VAT on medical equipment, and exempting digital payment services from VAT.
The Minister also announced plans to issue a comprehensive administrative seizure guide and unify airport departure fees, reinforcing trust and fairness within the tax system.
ABA Annual Iftar was honored by the presence of:
* H.E Ahmed Kouchouk, Minister of Finance
* H.E Eng. Khaled Hashem, Minister of Industry
* Former ministers, ambassadors, United Nations representatives, alongside the Regional Director of the The World Bank , heads of government authorities, prominent public figures, and members of the Association’s Board of Directors.
* Rasha Abdel Aal, Head of the Egyptian Tax Authority
Ahmed Amawi, Head of the Egyptian Customs Authority
* Major General Eng. Essam El-Naggar, Chairman of the General Organization for Export and Import Control
* Dr. Tarek El-Houby, Chairman of the National Food Safety Authority
* ABA Board members, & prominent members.