Egypt's New Tax Facilitation Package Includes Development Of Advance Ruling System: ETA Chief
Date
11/13/2024 3:15:13 PM
(MENAFN- Daily News Egypt) Rasha Abdel Aal, the chairperson of the Egyptian Tax Authority, has noted that the new tax facilitation package is part of ongoing efforts by the Minister of Finance and the Tax Authority to boost transparency and provide comprehensive support to taxpayers and registrants. This package includes the development and activation of the Advance Ruling System, which is legally authorized to issue binding decisions on tax treatments for transactions taxpayers and registrants plan to undertake with potential tax implications.
Abdel Aal highlighted that this system aims to clarify tax treatments for these transactions, thereby helping investors prepare accurate feasibility studies for their projects within a transparent framework, providing a clear understanding of applicable tax laws.
In a statement by the Tax Authority on Wednesday, Abdel Aal pointed to recent measures taken to support the Advance Ruling System's objectives and maintain its essential, impactful role. One key measure has been transforming the Advance Ruling Committee into a permanent unit under the direct supervision of the head of the Egyptian Tax Authority. This shift is expected to significantly enhance the unit's effectiveness and ensure meticulous follow-up to support the continuity and efficiency of operations. Additionally, the unit will be strengthened with a sufficient number of skilled professionals with specialized expertise across various tax types.
Abdel Aal explained that organizational measures within the unit will operate at three levels-preparation of studies, review, and approval-to ensure accuracy and quality in decision-making.
She also emphasized the integration of digital transformation, which will streamline operations within the unit. Through a fully electronic system, requests, documentation, decision issuance, and delivery will be processed, enhancing the speed and efficiency of services for taxpayers and registrants.
In a related context, Abdel Aal affirmed that priority access to the unit's services would be given to compliant taxpayers and registrants, in a move aimed at encouraging greater tax compliance.
MENAFN13112024000153011029ID1108883174
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.