Chaired by the Prime Minister, the council will include heads of the Federation of Egyptian Chambers of Commerce, Federation of Egyptian Industries, and Egyptian Federation of Investors Associations
Egypt’s Supreme Tax Council has been formed, by presidential decree, to empower the private sector, stimulate investment, and encourage investors to expand their productive and export activities, according to Minister of Finance, Mohamed Maait.
President El Sisi issued the decree on Monday, March 25.
Chaired by the Prime Minister, the council will include heads of the Federation of Egyptian Chambers of Commerce, Federation of Egyptian Industries, and Egyptian Federation of Investors Associations.
Other members of the council were listed as leaders and experts in the industrial, commercial, and investment sectors, along with representatives from the business community, tax associations, accountants, and university professors in the economic, financial, and tax fields.
The Supreme Council of Taxes will support Egypt’s ongoing economic reforms, Maait explained, adding that council members will be able to contribute to shaping tax policies and monitor its progress.
The council will have extensive authority to develop a progressive tax system that fosters investment and regulates the tax relationship between investors and the state.
According to Maait’s statement, the council will be responsible for reviewing tax legislation, executive regulations, and issues referred by the cabinet. In addition, the council will look into complaints and challenges within the tax community, providing solutions, technical support, and legal advice to protect taxpayer interests.
The FinMin noted that the council will help create educational guides on tax examination rules and procedures with tax authorities, as well as foster taxpayer awareness of their rights and duties.
Maait highlighted that a document outlining taxpayer rights is in the works, along with ongoing evaluation of tax administration initiatives to ensure fair tax and customs collection and minimize disputes.
He added that the tax council will coordinate with the Ministry of Finance and the Supreme Investment Council to research ways to leverage taxation to stimulate economic activity, with the tax council expected to form strategies to manage tax arrears and expand the tax base, as well as work on improving tax equity by integrating the informal economy.
Maait explained that preparations for the council’s inaugural meeting have begun.
