The Egyptian Ministry of Finance is preparing to launch a new initiative aimed at providing affordable financing to young entrepreneurs, developed in collaboration with the Micro, Small, and Medium Enterprises Development Agency (MSMEDA). The announcement was made by Finance Minister Ahmed Kouchouk during a dialogue with technology company representatives at the Cairo ICT conference.
New Tax Incentives
Minister Kouchouk revealed that the ministry will soon announce a new package of incentives for the first 100,000 taxpayers who join the country’s simplified and integrated tax system. He noted that this system has proven successful in its initial phase.
A second package of tax facilities is also set to be introduced for public discussion in December. This package aims to support long-standing and compliant taxpayers by providing practical solutions to tax challenges and introducing incentives for activities such as stock market registration and trading.
Digital Transformation and Customer Service
A key priority for the ministry is to expand the tax base through a genuine partnership with the business community. To achieve this, the government plans to establish advanced customer service centers for both the Tax and Customs authorities. These centers will leverage advanced technology and specialized departments to improve and simplify procedures for businesses.
The digital transformation efforts will also extend to the real estate tax system, which will see the launch of a dedicated mobile application to offer simplified services to citizens. Minister Kouchouk emphasized the importance of using artificial intelligence to streamline information for investors and enhance decision-making within the ministry and its related bodies.
About The Egyptian Ministry of Finance
The Egyptian Ministry of Finance is the government body responsible for managing the state’s public treasury. Its mandate includes developing and implementing fiscal policy, preparing the state’s general budget, managing public debt, and overseeing the national tax and customs systems to promote economic growth and stability in Egypt.
Source: Economy Plus ME
