Speaking during an open discussion with technology company representatives at the Cairo ICT conference, Kouchouk said the ministry is working with the Micro, Small and Medium Enterprises Development Agency on a new initiative for easy-term financing to stimulate youth entrepreneurship.
He noted that the simplified and integrated tax system has
proven successful, adding that new incentives will soon be announced for the first
100,000 new taxpayers who join the system.
Kouchouk stated that the priority is to expand the tax base
in a genuine partnership with the business community. He said the government
aims to establish centers of excellence to offer exceptional, technology-based
customer services, supported by specialized departments within the Tax and
Customs Authorities, and this will be gradually expanded.
The Minister indicated that the second package of tax
facilities will be presented for public consultation in December to support
committed taxpayers. This package will offer practical solutions to tax
challenges and incentives for activities such as registration and transactions
on the stock exchange. He added that the ministry is working on a comprehensive
and integrated risk management system with a more focused vision to encourage
long-term investors.
Regarding property taxes, Kouchouk affirmed that the system
will include the launch of a mobile application to provide simpler services to
citizens, stressing the importance of using Artificial Intelligence (AI) to
simplify information for investors and those dealing with the Finance Ministry.
He explained that real-time monitoring of state budget
revenues and expenditures aids in timely and correct decision-making. He added
that the huge volume of data resulting from digitisation and mechanization
presents a strong opportunity for investment in AI, which will provide
additional analytics to enhance analysis, forecasting, services, and meeting
citizen needs.
During a tour of the booths of e-finance and e-tax, the Minister
praised their efforts supporting the digital transformation. He stressed that
they are working together to simplify all procedures for the benefit of the
economy and the public, and highlighted the importance of using AI across the
tax system to simplify things for taxpayers.
E-Tax CEO Khaled Abdel Ghany expressed appreciation for the minister's support and recognized Ibrahim Sarhan, Chairman of the e-finance Group and e-tax, whose strategic vision was key to the company's achievements. Abdel Ghany noted that Kouchouk's visit provides a strong boost for the company to expand its services and develop a more efficient digital infrastructure, cementing its role as a key partner in developing the tax technology system.