Finance Minister Ahmed Kouchouk reviewed the key tax and customs facilities proposed by the Ministry of Finance to the House of Representatives, aimed at simplifying procedures, reducing burdens, and facilitating processes for citizens and investors.
Minister Kouchouk, in his meeting with the Mostaqbal Watan Party, stated that among the most important targeted measures are reducing the value-added tax (VAT) on machinery, equipment, and medical devices from 14% to 5%; exempting transit trade services from VAT; shortening the periods and time required for VAT refund procedures; abolishing the capital gains tax on stock exchange transactions and replacing it with a simple stamp duty at a rate lower than the current tax applied to non-resident investors; granting newly listed companies on the Egyptian Stock Exchange additional tax advantages; extending the application of the law on settling tax disputes; and other proposed tax and customs incentives.
The Mostaqbal Watan Party highlighted several challenges affecting citizens, particularly concerning the tax burdens on certain medical devices used to treat diabetes in children.
The minister stated that the government is responsive on this issue, implementing a state-funded support program that covers tax and customs duties on insulin devices for children with diabetes, thereby lowering the cost and burden of providing these services to all affected children.
The meeting was chaired by MP Ahmed Abdel Gawad, deputy chairman of the party, secretary-general, and head of the parliamentary bloc of the Mostaqbal Watan Party. It was attended by the party’s MPs and heads of specialized committees.
The meeting was also attended by Rasha Abdel Aal, Head of the Tax Authority; Rami Yousef, Assistant Minister for Tax Policies; and several advisors and senior officials of the Tax Authority.
Source: Al-Ahram’s official online portal
