Egypt’s Ministry of Finance has resolved over 17,000 tax disputes worth more than 15.4 billion pounds within ten months of implementing Law 153 of 2023. This achievement was accomplished under the direction of Minister of Finance Dr. Mohamed Maait, who directed the Tax Authority to swiftly resolve disputes for businesses with a turnover of up to 10 million pounds using the simplified peremptory tax system. The goal is to prevent the closure of any factory or business and enhance local production and export efforts.
To further streamline tax dispute resolution, the Ministry of Finance is working on developing tax appeal committees, stabilizing taxpayer positions, and reducing backlog appeals before these committees. This approach aims to expedite dispute resolution, promote justice in taxes, and establish governance, transparency, and integrity in tax evaluation principles to create a more attractive environment for investment.
Dr. Mohamed Maait has submitted a draft law to the Council of Ministers to renew the law on ending tax disputes and facilitate dispute resolutions until January 2025. This initiative is part of ongoing efforts to simplify mechanisms for settling tax disputes outside court systems to support financiers, stimulate investment, and ensure that the state receives its rightful revenues.
The Ministry aims to encourage investors to expand their activities in Egypt and attract both domestic and foreign investments aligned with economic reform goals. To achieve this goal, efforts are being made to enhance electronic platforms and utilize artificial intelligence applications for annual tax exams.
Overall, these initiatives seek to improve Egypt’s tax systems by benefiting taxpayers while supporting economic growth and attracting investment for development purposes.
