Kouchouk clarified, in his meeting with representatives of a number of major banks, investment funds and companies during the annual meetings of EFG Hermes in Dubai said that the ministry is working to restructure financial policies to have a greater impact on the sustainability of private sector growth and economic stability.
He said that the new draft budget for the fiscal year
2025-2026 is boosting economic activity by funding several initiatives that
stimulate production and exports.
He added that Egypt is working to restructure and
develop the tax system with a new approach based on building bridges of trust,
partnership, and support for the business community. The government aims to
expand the tax base by stimulating voluntary compliance rates to create greater
financial space to support taxpayers.
Kouchouk pointed out that the state’s goal is to reduce
tax burdens and obligations with more targeted incentive packages for
individuals and companies, emphasizing that it supports startups, small
businesses, and professionals with a simplified and integrated tax system, and
it tries to resolve tax disputes through facilitated mechanisms. A limit has
been set for late payment fees or additional taxes not exceeding the original
tax due. A central settlement mechanism for investors has also been introduced,
and value-added tax refunds have been improved.
He emphasized the ongoing comprehensive strategy to reduce debt ratios and burdens, freeing up resources for increased investment in human development and social protection for vulnerable populations.