Tax Authority
El-Kilani shared that the tax facilitation package aims to establish a comprehensive tax system for businesses with annual revenues not exceeding LE 15 million as part of the government's efforts to encourage and support small enterprises through simplified tax treatment.
The new tax system stated that establishments with a business turnover below LE 250,000 will be subject to an annual tax of LE 1,000
These strides have not only streamlined processes for taxpayers but have also delivered substantial benefits across a range of industrial sectors.
Google noted that it will charge the VAT on its “e-services unless we have your Egyptian Tax ID number”
The income tax imposed on individuals earning more than LE 1.2 million annually is expected to generate around LE 4 billion, said Mohamed Maait, Finance Minister, in a separate statement
Abdel Kader pointed out that this comes within the framework of cooperation between the Ministry of Finance and the Authority with the MSMEDA to facilitate the owners of medium, small and micro enterprises to register at the tax authority.
In a press release on Sunday, he added that this comes within the finance minister’s directives in which the campaign will start in Gharbiya governorate.
Abdel Kader clarified that the Ministry of Finance is closely following the Tax Authority to list transactions that take place through electronic platforms, and determining who does them, to include informal economy of the official system, and to reclaim the rights of the state’s public treasury.
The authority said in a statement that the minister's decision came after a presidential decree no. 357/2021 on extending the service of Abdel Kader for one year as of July 30, 2021.
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 protocol comes in implementation of the directives of the finance minister to guarantee tax justice in the application of the law regulating VAT, said Reda Abdel Kader, head of the Tax Authority.
The Administrative Control Authority on Friday ordered the arrest of Abdel Azim Hussein, chief of the Egyptian Tax Authority (ETA) for allegedly accepting bribes, state’s media reported.
Revenues from products and services tax amounted to LE 32.1 billion.
The law aims to accelerate often lengthy tax disputes by resolving them through a committee of independent experts, instead of courts.
Tax Authority is not conducting any studies in that regard, keeping the current tax rate stable.
Tax revenues in FY2016/17 increased by 34.1 percent year-on-year to reach LE 659 billion.
A number of 19 companies operating in the automotive market were referred to the tax evasion unit, CPA head said.
A new tax obliging travel agencies to pay a tax worth 20 percent of the amounts they received in support to operate charter flights faces opposition.
Citizens with annual income below LE 7,200 are exempted from taxes.
Egypt’s government approved new amendments to the Income Tax Law, under which the annual salaries of public employees will be divided into five tranches.
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