Ramy Youssef: The new income tax law will take a new approach in style, not in policies.
Taymour: The tax refund project for those leaving during the climate conference in Egypt is a witness to the success of the digital transformation system in tax systems
Sherif Shawky, the main partner in the tax sector in Egypt, Kuwait and Libya at PwC Middle East:
– We commend the efforts of digital transformation in the tax system, and we affirm our continued assistance to institutions in introducing the latest digital developments in the field of taxation.
confirmed “Rami Youssef, Assistant Minister of Finance for Tax Policies and Development,” said that the Ministry of Finance and the Egyptian Tax Authority have made great strides in the path of development, mechanization and digital transformation, and many development and mechanization projects have been implemented such as the unified portal for the services of the Egyptian Tax Authority, the new main tax system, and the electronic bill system, And the electronic receipt system, the return of tax to departures, and the link between the systems of the Egyptian Tax Authority and the various external parties and other projects in line with the vision of Egypt 2030, and it comes to serve all parties (the interest, the financier, and the state’s public treasury), and even helps In resolving complaints of arbitrary estimation, slow Procedures.
This came during the sessions of the annual tax conference of PricewaterhouseCoopers-Middle East in Egypt, which highlighted the reforms witnessed by the tax system at the local and global levels, under the title “Are you ready to transform your business
Regarding the amendments to the income tax law, “Rami Youssef” explained that we will have a completely new income tax law that is currently being worked on. There will be no prejudice to tax rates, but the law will take a new approach in style. Not in politics.
He stressed that once the first draft of the law is completed, the law will be subject to societal dialogue so that it is compatible with all visions and serves the private sector, noting that the current law is already suffering from problems, which necessitated the need to work on a law A new solution that addresses these problems.
“Rami Youssef” said that the Ministry of Finance and the Egyptian Tax Authority are currently working to close old files regarding tax disputes, and work is underway to open a new era with financiers in light of the mechanization of tax procedures.
He indicated that the automation systems are completed from the electronic invoice and the The electronic receipt mainly aims to reduce the field examination to a minimum. The recently held climate conference in Egypt is clear evidence of the success of the digital transformation system in tax systems and that Egypt has established a strong system that suits the desired economic developments for investments in the current period.
Timur said that the mechanization projects are progressing in full swing now, as The electronic receipt project is an extension of the electronic bill and then the launch of the citizens’ incentive project, which reveals that we have the largest database and in a record time. Mechanisms and timings for implementing tax refunds for departures at various ports and airports, according to a time plan that will be determined. The Tax Authority, including major projects such as the electronic bill system Intention, the electronic receipt system, and the new main tax business system, which have been completed, and we are now in the stage of final improvements to it.
He explained that the main tax system has already been implemented in five tax centers and 10 errands Developed and integrated, pointing out that it is planned to complete the development, integration and dissemination of this system in the errands of Greater Cairo (Cairo, Giza and Qalyubia) before the end of this year.
He continued that the Ministry of Finance succeeded in achieving network connectivity with The administrative apparatus of the state through linking with 13 entities in the country out of approximately 80 targeted entities to be linked with.
For his part, Sherif Shawky, the main partner in the tax sector in Egypt, Kuwait and Libya at PricewaterhouseCoopers, stated- Middle East, saying: “Egypt is witnessing an accelerated digital transformation that requires taking timely measures to support and assist institutions in preparing for the technological change in the tax arena. In 2022, the Egyptian government issued new amendments to Legal value-added tax and stamp tax to grant operating projects this Through economic zones of a special nature, the advantage of being subject to a value-added tax at a zero rate on goods and services that you export outside the country.”
He expressed his thanks to the Minister of Finance and his leadership for attending that conference and attending these discussions with the aim of exploring more about The future of investment in Egypt, and in this regard, we affirm our commitment to help institutions understand and learn about the latest digital developments in the field of taxation and also help them understand new local and global legislation so that they can continue to make informed business decisions based on knowledge and understanding.