Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, said on Sunday that the government does not plan to raise taxes, stressing the willingness to maintain stable tax policies to attract new investments.
The minister further noted that the tax system is witnessing a historic overhaul with fundamental reforms in order to modernize the system and adopt new digital solutions, in order to ease the process for taxpayers across the country.
In addition, Maait further noted that the target for the growth of taxes’ contribution to the gross domestic product (GDP) is set at 2.5% for five years, or 0.5% per year, from 14% to 16.5%.
Moreover, the Ministry of Finance has increased the tax exemption limit by 60%, the minister indicated.
