The new measures, directed by Finance Minister Ahmed Kouchouk, focus on building a "partnership based on trust" with the business community.
Key highlights include:
Capital Market Support: A shift from capital gains tax to
stamp duty on stock market transactions. To encourage listings, companies will
receive specific tax benefits for three years to increase trading volume.
Liquidity & Cash Flow: The government will accelerate
Value Added Tax (VAT) refunds and allow taxpayers to benefit from a simplified
tax system for the 2023 and 2024 fiscal years.
Healthcare Incentives: A proposed legislative amendment will
slash VAT on medical devices from 14% to 5%. Additionally, components for
dialysis equipment and filters will be fully exempt from VAT to support the
health sector and local manufacturers.
Digitalization: The authority is launching an integrated
digital system to streamline company liquidation and a new mobile app for
real-time property tax notifications and payments.
Compliance Rewards: A new "Excellence Card" will
be introduced to provide incentives for compliant taxpayers.
Abdel Aal emphasized that the Tax Authority is also launching a "Consultation Platform" to allow the business community to review and provide feedback on new regulations before they are officially issued, ensuring better implementation and legal clarity.