Maait made the comments during a meeting with the members of the Egyptian Businessmen Association (EBA) and the Egyptian-Lebanese Businessmen Association (ELBA).
Maait also said that the current phase of this project will be fully completed by the end of June 2022.
In line with the state’s digital transformation strategy dubbed ‘Digital Egypt’, the government launched in 2021 a unified platform for electronic and automated tax collection, which is designed to collect and document the taxes of all business entities. The system covers all tax types, including income taxes, freelance taxes, deductions and collection returns, value added taxes, and stamp taxes, with all transactions set to be paid electronically using non-cash payment methods.
Maait also told the EPA’s members that the government does not intend to impose new taxes going forward, but it aims to diversify the investor base.
Egypt was among 130 countries that reached a global deal called OECD/G20, which includes 15 actions to tackle tax avoidance and improve the coherence of international tax rules.
The FY2021/22 budget revenues rose by 10.3 percent in its first half (July-December 2021), according to the finance ministry.
Tax revenues also inched up by 15.7 percent compared to the corresponding half of FY2020/21.
Regarding the ongoing global economic crisis, Maait said that Egypt’s economy has managed to contain its impacts with a finance package of EGP 135 billion.
“The government will do its best to support the agriculture, manufacturing and export sectors, which are a top apriority on its agenda,” Maait to EPA’s members.
During the meeting, the EBA’s president Ali Eisa said that the state supports the industrial sector by expanding investment activities and maintaining the production cycle, both of which contribute to preserving the workforce and creating new job opportunities.