Dr. Ayman Mohsab, Rapporteur of the Investment Priorities Committee of the National Dialogue and a member, confirmed House of RepresentativesThe second package of tax facilities announced by the Ministry of Finance represents a strategic step that reflects the state’s awareness of the necessity of developing the financial and tax policy system to keep pace with the requirements of the Egyptian economy and enhance the investment environment.
Mohsab explained that the new package comes in the context of efforts to support investors and encourage economic activity, noting that these measures contribute to reducing tax burdens on companies and small and medium enterprises, and stimulating both local and foreign investments. He added that the package focuses on simplifying procedures and providing clear tax and incentives, which helps increase transparency and reduce administrative red tape that was an obstacle for some investors.
The rapporteur of the National Dialogue Investment Priorities Committee indicated that the second package included several facilities, including tax exemptions, reductions in tax rates, facilitating installment and payment mechanisms, in addition to simplifying electronic procedures for submitting tax returns and applications. He said that these steps would enhance investors’ ability to plan financially and improve cash flows for projects, which would reflect positively on economic growth rates and job opportunities.
Mohasseb stressed that the new package represents a strong message to local and international markets that the Egyptian state is seriously seeking to provide a stable and attractive investment environment, based on transparency, clarity in legislation, and ease of administrative procedures. He added that this package comes integrated with other support and stimulus packages launched by the state during the last period, within the framework of an integrated plan to enhance the competitiveness of the Egyptian economy and ensure the sustainability of its growth.
The member of the House of Representatives indicated that the Ministry of Finance is working to monitor the impact of these facilities on the investment reality, and evaluate their effectiveness in stimulating economic activity, while preparing to make any future amendments according to realistic results. He also stressed the importance of the cooperation of all government agencies to facilitate the practical implementation of these policies, and to ensure that support and facilities reach all eligible projects, in a way that enhances the investment climate and stimulates sustainable growth.
Mohsab concluded his statements by stressing that the government is committed to continuously developing the financial and tax policy system, which contributes to improving the competitiveness of the Egyptian economy, supporting small and medium enterprises, and encouraging industrial and agricultural projects, in order to achieve sustainable economic development and create job opportunities for youth.
