PwC Middle East in Egypt hosts its annual Tax seminar highlighting local and global reforms in taxation
PwC Middle East in Egypt held its annual tax seminar, titled “Are you ready to transform your business?” on Thursday, 23 February at the St. Regis Cairo.
The seminar was attended by H.E. Dr. Mohamed Maait, Minister of Finance, Hossam Haiba, Chief Executive Officer of the General Authority for Investment, Rami Mohamed, Deputy of the Minister of Finance, Mokhtar Tawfik, Head of the Egyptian Tax Authority, advisers to the Minister of Finance, including PwC tax experts, and business community leaders.
The seminar offered a significant opportunity for PwC’s tax experts, senior government officials and Egypt’s business community to discuss and share insights on the latest tax developments in Egypt including the unified tax procedures, the new amendments of the VAT and Stamp Tax Laws and the draft of the Income Tax Act 2023. Additionally, the seminar addressed the international tax updates and Pillar Two “Global Minimum Tax and its impact on businesses.”
Sherif Shawki, Tax Leader - Egypt, Kuwait and Libya at PwC Middle East said: “Egypt is undergoing accelerated digital transformation which calls for timely actions to support and help businesses prepare for technological change in the tax landscape. In 2022, the Egyptian government issued new amendments to the VAT and Stamp Tax Laws providing projects operating within the economic zones of special nature with an advantage of being subjected to VAT at 0% on the goods and services they’re exporting.”
Adding: “We are thrilled to have His Excellency the Minister of Finance leading the discussion during this year's annual tax seminar to explore more on the future of investment in Egypt. We are committed to helping businesses navigate the latest digital developments in taxation and new local and global legislation to continue making informed business decisions.”