ETA Chief Highlights New Tax Facilities, Community Engagement

(MENAFN- Daily News Egypt) Rasha Abdel Aal, Chairperson of the Egyptian Tax Authority (ETA), emphasized the Minister of Finance's commitment to fostering community dialogue between the Authority and taxpayers. She noted that effective communication with civil society and the tax community bolsters transparency for successful tax administration.

During a seminar organized by the Egyptian-Lebanese Businessmen Association (ELBA) in coordination with the ETA, Abdel Aal discussed challenges and solutions in developing the tax system to support investment. She appreciated ELBA as a key partner, highlighting the Authority's dedication to addressing tax-related issues faced by the Association's investor members and finding solutions.

Abdel Aal outlined that the recently announced tax facilities aim to achieve certainty, simplification, and reduced burdens, aligning with Egypt's Vision 2030. She indicated that the first package of tax facilities would be followed by additional measures.

Sayed Sakr, Deputy Chairperson of the ETA, affirmed that the Ministry of Finance and the ETA strive to reduce tax burdens on investors and simplify tax procedures. He clarified that this package of facilities is a correction of specific provisions rather than an alternative to the tax policy document, which outlines the state's future vision.

Sakr detailed the first package of tax facilities, including the activation of the central clearing system to aid taxpayers and registrants in settling their balances. Additionally, a limit has been set for fines, not exceeding the original tax, to resolve disputes stemming from significant debts due to late payment interest.

He also mentioned that taxpayers who missed filing deadlines between 2020 and 2023 could submit their returns within a specified period without incurring penalties. For micro, small, and medium enterprises (MSMEs), the business figure threshold was increased from EGP 10 million to 15 million, and simplified tax rates were introduced, ensuring consistent tax transactions for five years.

Sakr announced the launch of an advanced electronic portal for taxpayer complaints, affiliated with the ETA. The Investor Support Unit and the Prior Opinion Unit, which can issue binding decisions, will also be strengthened.

Fathallah Fawzy, head of ELBA, expressed his satisfaction with the meeting and committed to future sessions. He emphasized the importance of joint efforts to build trust between the Authority and the business community and highlighted the Association's dedication to addressing economic issues impacting Egypt's business and investment sectors. Fawzy looked forward to resolving obstacles through the ETA's tax facilities package and stressed the members' eagerness to understand the implementation mechanisms and benefits for the private sector.

The seminar was attended by Mohamed Keshk, Assistant Chairperson of the ETA and Head of the Investor Support Unit; Afef Ibrahim, Assistant Chairperson of the ETA; Maha Ali, the Head of the Media Unit at the ETA; Salwa Samir, General Manager of Electronic Transactions at the ETA; Ahmed Bahery, General Manager of Internal Audit and Head of the Executive Committee of the Tax Authority Automation Project; and Soheir Hegazy, Auditor at the Agreements Research Department, from the Egyptian-Lebanese Association of Investors and Entrepreneurs.

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