Speaking during a meeting with social media influencers, Kouchouk emphasized that the government is transitioning toward a partnership model with taxpayers.
"The least we can do for our funding partners is
provide a simple and distinguished tax service," Kouchouk said, adding
that the tax authority is leading current reforms with full ministry backing.
The Minister revealed that the government is investing
heavily in artificial intelligence and digital tools to streamline procedures
for investors. This includes the upcoming launch of a mobile application for
real estate transactions and three advanced tax centers operated by
"E-tax" to provide specialized services.
Key measures announced include: Simplified Tax Systems: Low-cost
financing for the first 100,000 taxpayers who voluntarily join a new simplified
tax regime.
Stock Market Incentives: Replacing capital gains tax with a
stamp duty and eliminating double taxation between holding companies and
subsidiaries to boost investment in the Egyptian Exchange.
Healthcare Support: Reducing Value Added Tax (VAT) on
medical devices from 14 percent to five percent to support the expansion of
universal health insurance.
Excellence Cards: Introducing a "Distinction Card"
for compliant taxpayers, offering both tax and non-tax incentives.
Kouchouk highlighted a significant improvement in Egypt's
fiscal indicators, noting that the budget debt-to-GDP ratio fell by 12 percent
over the last two years, while external budget debt decreased by approximately
$4 billion in the same period.
The Minister confirmed that recent reviews with the
International Monetary Fund (IMF) were successful. "The Egyptian economy
is on the right track," he said, noting that the government has
implemented 14 structural reforms under the IMF-supported program.
To further improve the investment climate, the Finance
Ministry is working with the Ministry of Investment on 30 measures to reduce
customs clearance times and costs. Additionally, the government plans to renew
the tax dispute settlement law to encourage out-of-court settlements and speed
up VAT refunds.
Kouchouk concluded by stating that the primary goal of these fiscal maneuvers is to create fiscal space to improve living standards for citizens and ensure that economic incentives are directly linked to clear performance targets.