Ahmed Kouchouk, Minister of Finance, presented the package, noting that the general vision and philosophy of the proposed reforms aim to continue building new partnerships with the tax community. The goal is to restore confidence and improve services by providing a set of integrated facilitations and incentives.
The Minister highlighted that the proposed package includes
various tax facilities and reforms. These include developing and simplifying
the real estate tax system by streamlining submission procedures, raising the
exemption limit for primary residences, allowing tax abatements, launching an
electronic filing application, and granting a specific period to pay real
estate taxes without late penalties.
Kouchouk added that the package also aims to implement
international best practices in taxation. It includes adjustments to customs
tariffs to support national industry, encourage investment, curb smuggling, and
reduce customs clearance times and costs. The package further proposes
expanding the electronic payroll tax system to more private sector companies
and introducing certain value-added tax reforms. He also noted that the package
seeks to expedite the approval and implementation of the second round of tax
facilitation measures.