Building on the second tax facilitation package launched December 23, Finance Minister Ahmed Kouchouk detailed new incentives at a December 29 panel, including concessional financing for the first 100,000 taxpayers joining the simplified tax system, sample-based audits, limited penalties, and three advanced tax centers, to boost compliance and growth.
During a panel at the Egyptian Centre for Economic Studies on December 29, Finance Minister Ahmed Kouchouk announced concessional financing for the first 100,000 taxpayers opting into the simplified tax system, introduced as part of the second facilitation package launched by Tax Authority head Rasha Abdel Aal on December 23. The measure aims to ease compliance, support business expansion, and foster trust.
Additional updates include sample-based audits for this year's tax returns, penalties capped at the principal tax amount, and the establishment of three specialized tax centers equipped with advanced e-Tax automation. Kouchouk emphasized an economic vision of openness and simplification, welcoming dialogue with business leaders on private sector challenges.
Expanding on the second package—already featuring the 'Excellence Card', accelerated VAT refunds, capital market incentives like stamp duty on trades, VAT cuts on medical devices to 5%, and electronic real estate tools—the minister outlined 10 real estate tax facilitations, such as raising the private residence exemption to EGP 4 million, simplified returns for multiple properties, and electronic payment recognition. Customs enhancements, coordinated with the Investment Ministry, include the Advance Cargo Information system and unified procedures to aid exports.
Deputy Minister Sherif El-Kilany highlighted ACI's role in facilitation. Centre chairperson Omar Mohanna and executive director Abla Abdel Latif praised the reforms and announced an evaluation of the first package.