Finance Minister: We received 750,000 tax returns from taxpayers, revealing voluntary disclosure of additional taxes amounting to 97 billion pounds
Cairo - Nadeh Imam: Ahmed Kajoog, Minister of Finance, affirmed that the ministry is working to develop state revenues through facilitations and without imposing new burdens, so as to be better equipped to serve the people and meet their basic needs. He clarified that priority is given to increasing spending on health and education sectors, and expanding targeted social protection programs.
Speaking in an open dialogue with Ahmed Al-Wakeel, President of the General Federation of Chambers of Commerce, along with deputies, mayors, and sheikhs from Matrouh, and in the presence of Major General Dr. Mohamed Al-Zamlot, Governor of Matrouh, Kajoog stated that the primary goal is to support all state entities so they can fulfill their role in improving services provided to citizens.
He added that their partnership extends to the business community and every “individual in Egypt,” aiming to increase investments and employment while boosting the competitiveness of the Egyptian economy. He emphasized that the bet is on the private sector to achieve good and rapid returns on investment, through facilitation and incentives.
He pointed out that the path of tax and customs reform aims to improve the conditions of their partners, change the reality for the better, and create a positive difference in their favor, noting that the business community is responding positively to the facilitations being proposed.
He said they have received more than 200,000 applications to join the simplified tax system, and more than 750,000 new and amended tax returns from taxpayers, which voluntarily disclose additional taxes amounting to 97 billion Egyptian pounds.
He clarified that they aim to establish an integrated electronic system to improve all services provided to citizens and taxpayers.
He affirmed that economic activity performance is improving, with the private sector accounting for 60% of investments, noting that they are witnessing good growth rates in the industrial, tourism, and information technology sectors.
He added that developing the customs system aims to reduce the time and costs of investment and logistics services, to enhance the competitiveness of the Egyptian economy.
He pointed out that tax facilitations have become a new reality, and the second package includes more incentives and facilitations, emphasizing that they will work with all their effort to properly implement the second package of tax and customs facilitations.
Ahmed Al-Wakeel, President of the General Federation of Chambers of Commerce, affirmed that the Egyptian economy has achieved tangible results as a result of a genuine partnership between the government and the private sector.
He said that tax and customs facilitations are rebuilding trust between the government and the business community.
He added that the results of the “first package” reflected the extent of the response and confidence of the tax community.
Major General Dr. Mohamed Al-Zamlot, Governor of Matrouh, affirmed that infrastructure development has reflected positively on economic growth in the governorate.
He said that the governorate possesses diverse potentials and resources across various economic sectors.
