Cairo – Mubasher: A ministerial decree will be issued to update tax data in Egypt, the finance minister said on Wednesday.
The tax number will be unified as of 1 May 2019 across the North African country and will be applied for all types of taxes, Mohamed Maait added in a statement.
On the sidelines of his meeting with the members of the French Chamber of Commerce in Egypt, Maait highlighted that tax data will be updated starting from 1 October until the end of April.
The finance ministry has completed a simplified draft for tax on micro and small enterprises, which will ease dealing with Egypt’s informal economy as the tax will be based on the business volume, he indicated.
He stressed that the government has no intention to boost taxes in the next four years, noting that the ministry’s plan is currently focusing on the stability of tax policies to bolster the business environment in the Arab world's most populous country.
