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Tax Authority aims to resolve disputes by June 2024 – Dailynewsegypt

Rasha Abdel Aal, the head of the Egyptian Tax Authority, has announced that the Tax Authority is working hard to follow the instructions of the Minister of Finance and resolve all tax disputes by June 2024.

Abdel Aal spoke at a seminar with the Egyptian Businessmen’s Association and the Tax Authority today. She said that they have surveyed the tax files of business owners with a turnover of less than ten million pounds across different tax jurisdictions and are applying Article Three to resolve their disputes. She added that they are monitoring the progress of these files weekly and encouraging small and micro-industries.

She stressed the Tax Authority’s interest in maintaining its partnership with the Egyptian Businessmen’s Association as a representative of the private sector. She said that this partnership is essential for the success and development of the tax system.

“We want to make sure that we do not change any tax procedures or laws without consulting the business community. We welcome their suggestions, listen to their problems and solutions, and cooperate to improve tax efficiency,” she said.

The Tax Authority also emphasized its commitment to continuous and constructive communication with the tax community. Abdel Aal explained that this communication is one of the key factors for the success of tax administration.

She reviewed the development stages of the digital tax system in 2018. She said that the electronic tax return filing system was one of the first projects they implemented. This system allows taxpayers to file their tax returns from anywhere and anytime, 24/7.

The goal of digitizing the tax system is to achieve tax justice and increase revenue by expanding the tax base and including the informal economy in the official system.

She also mentioned that the new Income Tax law will be introduced for public discussion soon. She confirmed that the executive regulations for Law No. 30 of 2023 are ready and are being reviewed by the Ministry of Finance. They will be issued soon.

She said that Article Three of Law No. 30 of 2023 is very important to facilitate the resolution of tax disputes and prepare for the transition to full automation.

Sayed Saqr, the Deputy Head of the Egyptian Tax Authority, answered some questions about tax amendments and industry support. He said that the new Income Tax law is designed to make tax dealings easier.

He said that Income Tax Law No. 91 of 2005 has been amended many times, so they decided to issue a new law that reflects the changes in laws and economic conditions. He said that this law would boost investment and economic development. He also said that there will be no changes in tax rates shortly.

Ali Eissa, the president of the Egyptian Businessmen’s Association, praised the Minister of Finance, Mohamed Maait, for appointing Rasha Abdel Aal as the first female head of the Egyptian Tax Authority. He said that this shows the recognition of Egyptian women’s role in economic development. He also said that the Egyptian Businessmen’s Association is the oldest business organization in Egypt, established in 1979 after the economic liberalization. He said that the association has always supported businesswomen and had two women on its first board of directors.

He said that the main purpose of the seminar, organized by the Finance Committee, is to serve the members and represent the private sector in all areas through successful partnerships and integration with the government. He said that they are proud of their cooperation with the Ministry of Finance, which benefits the economy and society. He said that the association, through its distinguished economists and businessmen, has always expressed the voice of the Egyptian private sector, which is the key to its strong position in the economic scene.

Magid Ezz El-Din, the head of the Finance Committee at the Egyptian Businessmen’s Association, said that the Ministry of Finance has made a technological breakthrough in developing the tax system by implementing many unprecedented and surprising digitization projects.

He said that the seminar aims to discuss the challenges that come from any change in the tax system and how it affects the taxpayers, the revenue, and the inclusion of the informal sector to achieve tax justice.