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The Finance Ministry has kick-started community dialogue sessions on the second package of tax facilities set to launch in 4Q 2025, a senior government source told EnterpriseAM. Meetings were held with major accounting and tax consultancy firms to identify problems and challenges facing large local and foreign companies in preparation to address them in the new package.
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REMEMBER- It first came to light in September of last year that the government is readying another tax relief package, one targeting the real estate sector, shortly after it unveiled the first package of tax facilities aimed at simplifying the tax system and easing the burden on taxpayers. Finance Minister Ahmed Kouchouk said last month that the second package of tax relief measures will be put up for community dialogue in October, pending parliamentary approval of some aspects.
What to expect from the package? Extending the deadline for settling tax disputes could be one of the expected measures to resolve all outstanding tax disputes, the source confirmed. It is also expected to propose legislative amendments to the VAT Law and the Tax Procedures Law.
A change of tune? A senior government source told us last month the Finance Ministry had no plans to further extend the deadline given for companies to submit pre-2020 tax dispute settlement requests, with the deadline expiring on 12 August.
A flexible value-added tax refund system will also be introduced through a digitized platform, reducing the current three-month — or longer — wait time, with simplified refund procedures requiring only export invoices, according to the source.
More tax facilities are on the way: Another key proposal is issuing new guidelines for international transaction pricing, or transfer pricing, the source said.
DATA POINT- Some 401k taxpayers benefited from the first tax relief package, including 396k applications to settle disputes. So far, EGP 23 bn in dues have been written off, with the rest still under review. Some 152.4k companies have benefited from EGP 17 bn in exemptions on late payment fees — up to 100% in some cases — and 104k taxpayers have applied to benefit from the simplified system for projects with an annual turnover not exceeding EGP 20 mn.
