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El-Sisi emphasized the importance of continuing to develop the tax system, building new relationships based on trust, credibility, and certainty between all parties involved.
President Abdel Fattah El-Sisi directed the launch of the second tax facilitation package during a meeting with Prime Minister, Mostafa Madbouly, and Minister of Finance, Ahmed Kouchouk. El-Sisi emphasized the importance of continuing to develop the tax system, building new relationships based on trust, credibility, and certainty between all parties involved. He highlighted the need to improve tax services, provide additional facilitation, and build confidence with investors.
The President was briefed on the details of the second tax facilitation package, aimed at supporting and encouraging tax compliance. This package is part of a broader strategy that includes four such packages.
Minister of Finance Kouchouk explained that the second tax facilitation package targets various sectors of the tax-paying community and aims to assist compliant taxpayers with facilitative measures that enhance confidence in voluntary compliance, promote their growth, and support their competitiveness. The package also ensures the rights of taxpayers and provides liquidity for both them and businesses.
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The first tax facilitation initiative had proven successful, with over 400,000 cases of voluntarily closed old files and 650,000 newly submitted or amended tax declarations amounting to approximately LE 78 billion. Additionally, new business transactions valued at around one trillion LE were declared.
