Tax Policy Strategy 2024/2030 to be submitted to Egypt’s National Dialogue next week

Maait noted that this strategy does not include any new burdens on investors, any increase in tax rates, or adjustments in the tax brackets, adding that the new income tax law will be an incentive for economic sectors.

Under the directives of President Abdel-Fattah El-Sisi, the second round of the National Dialogue will kick off Sunday, with a focus on the serious economic issues that Egypt is experiencing.

New amendment for General Finance Law
 

The cabinet has approved the amendment of certain provisions of the Unified General Finance Law and referred it to the House of Representatives for discussion next week, the minister stated.

This amendment introduces what is called the "general government budget," to achieve the budget comprehensiveness principle, according to Maait.

The general government budget includes the general state budget and the budgets of 59 economic entities in terms of revenues and expenditures, he explained.

“This will be implemented gradually over five years, starting with the presentation of the general government budget during the upcoming FY2024/2025, including the general state budget and the budgets of 40 economic entities, after the approval of the House of Representatives,” said Maait.