The Egyptian Ministry of Finance has successfully resolved over 17,000 tax disputes in just 10 months, totaling more than 15.4 billion pounds since the implementation of Law 153 of 2023. This was accomplished through the direction of Dr. Mohamed Maait, Minister of Finance, who directed the Tax Authority to resolve small business tax disputes quickly using a simplified peremptory tax system. This approach avoids shutting down any factories or businesses and supports local production and export enhancement efforts.
In addition to resolving tax disputes, the Ministry is also working on developing tax appeal committees to ensure stability for taxpayers, reduce pending appeal volumes, and expedite the dispute resolution process to establish tax justice. These efforts also contribute to promoting good governance, transparency, integrity, and uniform evaluation principles to create a more advanced and attractive tax system for investments.
Furthermore, Dr. Mohamed Maait announced that the Ministry has drafted a law to renew the law on ending tax disputes and extend the deadline for dispute resolution until January 2025. By streamlining mechanisms and settling disputes effectively outside of courts, the Ministry aims to make it easier for investors to navigate taxes while attracting both local and foreign investment opportunities in Egypt’s broader economic reform programs.
To further enhance this progress, the Ministry plans annual expansions in electronic systems and artificial intelligence applications for sustainable growth rates driven by private sector investment opportunities worldwide. These initiatives will support comprehensive development goals by benefiting from local and global investment opportunities while ensuring state rights are upheld throughout this process.
Overall, these efforts demonstrate Egypt’s commitment to establishing a transparent and efficient tax system that supports economic growth while ensuring fairness for all parties involved.