Sisi urges taking social aspect into consideration in applying economic reformsSource: www.export-egypt.com 7/31/2016, Location: Africa |
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 President Abdel Fattah El Sisi chaired a meeting including Prime Minister Sherif Ismail and Finance Minister Amr Garhy.
The meeting reviewed the current tax system in Egypt and the general framework of proposed tax reforms along with the importance of establishing a stable taxing policy, said presidential spokesman Alaa Yousef. This policy is important to achieve financial, economic and social goals including more investments and tax revenues. This will also help the State accomplish ongoing projects in light of a comprehensive tax reform vision. The finance minister presented a review of a bill on settling tax disputes, saying the draft law will set out a new approach in dealing with taxpayers. He also briefed the meeting on a proposed tax system for small and micro-sized enterprises. A simple way of tax accounting for these kinds of businesses will be created upon the proposed system, he said, adding that this will lure the informal economy into the taxpaying system. The economic situation and financial developments over the past few years were presented by the minister. The president asserted the necessity of taking the social aspect into consideration while applying the economic reform measures. He ordered an electronic system to be created to examine periodically tax files. |
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