11 December 2012

Egypt: Finance Ministry Starts Dialogue With Businessmen, Experts

Minister of Finance Momtaz El Saeid decided on Monday 10/12/2012 to launch a societal dialogue on the latest taxes with Businessmen and experts.

Mamdouh Omar, the Chairman of tax administration said he as an executive department was ready to enter into discussions with all parties concerned including the federation of industries, Businessmen associations, chambers of commerce and auditors to clear any misunderstanding on these decrees and applying their remarks in any legislative amendment if this became necessary.

He said these decrees have many positive aspects such as ratifying the decision of the Minister of Industry exempting equipment and tools from sales tax, applying tax exemption for non official economy and encouraging this sector to join taxation system and to work within the framework of official economy.

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