Representatives plan agent: The new tax facilities package supports investments and facilitates tax work
Representative Mustafa Salem, Undersecretary of the Planning and Budget Committee in the House of Representatives, confirmed that the new tax facilities package launched by the Ministry of Finance and recently announced by Dr. Ahmed Kojak, Minister of Finance, is a package to gain the confidence of financiers, explaining that the current tax system needs development commensurate with technological and financial development.
Adding that the new package contributes to eliminating obstacles and achieving transparency and justice, which helps create an efficient and fair work environment.
He explained that the package provides solutions to most of the tax challenges that exist on the ground, and these facilities achieve confidence and stability in the tax system according to an integrated strategy and action plan based on a comprehensive and impartial analysis of the current challenges, organizational and procedural reforms, and the use of technology to raise efficiency, develop and train human cadres, and enhance communication. Effective and developing a comprehensive system for monitoring and evaluation.
Salem said that approving the tax facilitation package leads to reducing the burden on financiers, enhancing voluntary compliance with the tax system, achieving tax justice by including the informal economy into the formal system and expanding the tax base, and increasing the efficiency of voluntary tax compliance by facilitating tax procedures, and institutional development to raise efficiency. Tax system.
The representative of the Representatives’ Plan indicated that one of the most important things about the new facilities is that taxpayers will be allowed to submit amended tax returns for the year 2020 until 2023 in the event of an omission, error, or omission of data that was not included in the original return without being subject to the legally prescribed penalties, as well as Announced that tax returns will be simplified and the number of their pages reduced, as well as unsupported documentary returns will be canceled temporarily. Salem praised the Minister of Finance’s quick decisions regarding strengthening the tax system with facilities that facilitate investors and provide them with comprehensive solutions. Stressing that implementing the facilitation package quickly will have a positive impact on tax revenues and attract more investments.
On the other hand, Salem believes that the biggest challenge facing the distinguished tax policies of the Minister of Finance lies in the actual implementation on the ground of those policies. policies, especially from the leaders and middle management of the Egyptian Tax Authority, who face a state of fear and trembling in making the appropriate decisions at the appropriate times, and do not have sufficient capacity to bear responsibility when making decisions despite their consistency with the correct law, which results in many problems.
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