(4 minutes read)
· The Egyptian Cabinet approved in principle the proposed incentive scheme to maximize collection of value-added tax named as “your tax”
· The package includes incentives extended to individuals, material rewards, and a penalty for non-compliance
The Egyptian Cabinet approved in principle the proposed incentive
scheme to maximize collection of value-added tax named as “your tax”. The package includes incentives extended to individuals, material rewards, and a penalty for non-compliance.
The incentive scheme has been evolved taking the tax payers into
confidence. They will be asked to give sources of funds and the
expenditure head to detect incidences of evasion.
The objective of the Ministry of Finance is to improve tax revenue
levels, enhance good governance in the field of taxation and public finance, and reach an inclusive society through systems that ensure that everyone pays their share of taxes.
The Ministries of Finance, Communications, Planning and Economic Development will scrutinize proposal submitted by the specialized consortium to implement the stimulus program.
