Taxes digitization projects are a successful model for partnership with the private sector, as the national project to modernize and mechanize the tax system, with its various tributaries, is being implemented in cooperation with major international companies operating in Egypt.
Advisor to the Minister of Finance for Tax Affairs stated that an independent unit has been established in the Tax Authority for e-commerce, and decisive legal measures have been taken against violators.
The Egyptian minister said in a statement, Monday that the imposition of laws can only be done through legislation approved by the Cabinet and approved by the House of Representatives, and not by ministerial decisions.
Maait added that the real estate tax is one of the oldest types of taxes in the legislative system, noting that it is a tax imposed when real estate is disposed of by sale, and the burden of which is borne by the seller, not the buyer.
Any house valued less than LE 2 million will be exempted from tax but its owner should present his statement before the end of this month.
The tax, under the new law, will be a simplified one that doesn’t require records, documents or purchase invoices.
Maait stated in a statement Sunday that the four stages include: "Greater Cairo, Alexandria and West Delta, East Delta, the Canal and Sinai, then Upper Egypt."
This came during the weekly meeting of the Egyptian Cabinet headed by Mostafa Madbouly, where he discussed many important files and issues.
The draft law “canceling the exemption decided on the returns of treasury bills, bonds and capital gains resulting from dealing on these bills and bonds from income tax” approved by the Parliament's Plan and Budget Committee, will not affect the exemptions established in the agreements concluded between the government and foreign countries
The delay fee or additional tax due on these tax arrears will be waived by 90 percent, if the original tax or fees due are fully paid within a maximum period of 60 days from the date of work with
Maait thanked the companies who joined the experiment operation phase of the e-bill system.
The ministry asserted that it does not intend to slap new taxes on mobile services, either phone calls or SMS.
This comes through the state policy that seeks to restore economic life, reduce the effects and repercussions left by coronavirus, and facilitate the financiers and registrants.
The ministry urged various media outlets and social media users to verify their reports before publishing them and contact the ministries concerned.
The President also directed increasing the tax exemption limit for those whose annual wage falls between LE 8,000 - 15,000.
Mai’t added in a press conference that Egypt achieved a primary surplus of LE 30 billion (0.5 percent) during the first half of 2019/2020.
The ministry said that the exported items included vegetables, fresh fruit, processed foodstuffs and paper products, glass, marble and chemicals, among others.
The invoice guarantees getting a good product from a known supplier, Hassan said, noting that it is a primary evidence for recipient to claim are subject to return policy.
Finance Ministry pointed out that the growth rate of tax amounted to 17 percent.
The ministry has applied a three-pillar plan to increase its financial resources and the state revenues, mainly joining the unofficial businesses into the state’s sector, increasing the number of tax payers, and fighting the tax-evaders.