Maait said that the signing comes amid global challenges that entails Arab efforts to be coordinated handle the negative repercussions for supply and import chains through encouraging investment and deepening the private sector’s contribution
Egypt signed a complementary protocol with the UAE to avoid double taxation and prevent income tax evasion is meant to boost opportunities of investment cooperation in all fields. The protocol was signed today on the sidelines of the eighth Annual Arab Fiscal Forum.
Maait said that the signing comes amid global challenges that entails Arab efforts to be coordinated handle the negative repercussions for supply and import chains through encouraging investment and deepening the private sector’s contribution.
“We are keen on providing all facilitation and easing any tax or customs obstacles that might face the UAE investors and companies in Egypt in a way that would contribute to expanding the base of their businesses and investment and production activities, and increase trade exchange between the two countries,” Maait said.
Maait also called on the Emirati business community to benefit from the measures taken by the Egyptian government to stimulate production and export in various fields. These efforts include: the Golden License, the State Ownership Policy Document, and the government’s initial public offering program.
Egypt is also working on automating the tax and customs systems to benefit from technologies such as artificial intelligence to raise the level of tax and customs performance, which helps make these systems more developed, motivating and attractive to local and foreign investment.
The finance minister also participated in the World Government Summit taking place in the UAE, the minister is scheduled to hold a number of bilateral meetings to deepen means of cooperation, exchanging visions and viewpoints on issues and priorities of common interest.
