Ashraf Abdel Ghani, a tax accountant and the association's founder, stated that revenues grew by 35.3%, the highest rate in the country's history, without imposing new taxes. He attributed the success to Finance Minister Ahmed Kojak's efforts to foster trust with the business community and encourage investment.
A key factor in the revenue increase was the amicable
settlement of tax disputes, which generated 77.9 billion EGP from over 401,000
requests, Abdel Ghani said. He noted this is a significant step toward
resolving the 350 billion EGP backlog of tax disputes. He said this was
achieved by establishing permanent committees and clear mechanisms for dispute
resolution, which will boost state revenues, stabilize taxpayers' finances, and
improve the investment climate.
The second factor was the expansion of the tax base, which
saw over 104,000 new taxpayers join the official system. The introduction of a
simplified tax system for businesses with an annual turnover of up to 20
million EGP was also a significant contributor. Abdel Ghani praised Tax
Authority head Rasha Abdel-Aal's commitment to the new system, stating it is
designed to permanently streamline procedures and reduce burdens on small
businesses.
Finally, Abdel Ghani highlighted the implementation of electronic tax systems as the third reason for the revenue increase, noting they have improved performance and saved time. However, he cautioned that issues within the system, such as slow error corrections, still negatively affect investment, production, and tax revenues.