Egypt Today: Minister of Finance, Ahmed Kouchouk, confirmed that Egypt will launch its second tax incentives package in December, designed to further improve the business environment. During a press conference following the weekly government meeting, he stated that the new package will be implemented by June 2025 as part of the ongoing economic reforms.
Kouchouk explained that this second package would offer multiple benefits for Egypt's committed business partners, including a White List, Excellence Card, priority access to specialized services, and additional incentives for compliant taxpayers.
He also mentioned the restructuring of VAT refund departments to simplify and expedite procedures, ensuring quick refunds within a week for those on the White List, as well as increasing the number of cases and refund amounts.
In addition, Kouchouk revealed that the government is in the final stages of a low-cost financing program aimed at boosting investments, especially for small and medium-sized enterprises (SMEs).
Regarding VAT refunds, Kouchouk announced that the government refunded a total of LE 7.2 billion during the 2024/2025 fiscal year, reflecting a 151 percent growth rate.
Furthermore, the simplified tax system continues to support businesses with annual revenues below LE 20 million. Kouchouk noted ongoing efforts with the Small and Medium Enterprises Development Agency to encourage the first 100,000 taxpayers to join the simplified system and coordination with the Ministry of Communications and Information Technology to expand the tax base and support entrepreneurs' growth.
https://www.egypttoday.com/Article/3/143845/Egypt-to-implement-second-tax-incentives-package-by-June-2025
