Cairo – Mubasher: The Egyptian cabinet approved in principle the proposed incentive scheme for maximising and controlling the collection of value-added tax (TAX).
The scheme includes individual incentives as well as in-kind and cash rewards for merchants and citizens, according to a statement on Wednesday.
By involving citizens in reporting transactions, the government will be able to combat tax evasion.
This move is in line with the Ministry of Finance’s plan to boost tax revenues and enhance good governance.
The Ministries of Finance, Communications and Information Technology, and Planning and Economic Development will study the proposal.
