FinMin prepares second wave of tax breaks

Good afternoon, ladies and gentlemen. It’s a relatively calm day on the home front, and we’ve got a brisk issue to match with few but important stories, including the Finance Ministry’s second wave of tax facilities, the latest in Venezuela, and a guide to something you might just want to start planning for…

But first, the news.

THE BIG STORY TODAY-

📍 The Finance Ministry is preparing a second wave of tax facilitation measures following a fresh round of consultations with the business community, a senior government source told EnterpriseAM. The move is a bridge toward a total overhaul of the tax code, as the government clears legacy files before introducing a new Income Tax Act.

The Tax Authority has extended its seizure-relief mechanism through 31 December 2026, according to an official document seen by EnterpriseAM. Under the decision, seizure will be lifted upon payment of 1% of outstanding liabilities in cases of unappealed tax assessments — subject to caps — or 10% where liabilities are due under committee decisions or enforceable court rulings, with the remaining balance to be settled in installments. The measure excludes cases of permanent cessation, liquidation, and certain leased-headquarter companies.

THE BIG STORY ABROAD-

🌐 All eyes remain on Venezuela as former President Nicolás Maduro’s capture highlights escalating geopolitical risks. Gold is on the rise, with the yellow metal climbing by over 2% to USD 4.4k per ounce at the time of publication. Silver also saw a spike, up 4.9%. The USD stood strong, yet heightened uncertainty may take its toll on the greenback, according to analysts. Meanwhile, oil prices fluctuated after US President Donald Trump vowed to take over Venezuela’s reserves.

^^Read more on: BBC, Bloomberg, and Reuters.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• Egypt is set to reduce its contracted LNG shipments for January from commercial suppliers by over 50% — down to six or seven shipments — compared to 14 to 16 shipments in January of last year;
• The Finance Ministry unveiled its 2026-2030 medium-term strategy, which focuses on curbing public debt and encouraging private sector growth. The strategy pivots away from emergency fiscal management toward a period of consolidation and “balanced” growth;
• 2025 was a record-breaking year for the EGX — the benchmark EGX30 index rose nearly 40%, climbing from approximately 32k points in March to close at 41.8k, flirting with an all-time high.

☁️ TOMORROW’S WEATHER- We’re in for yet another cooler-than-usual day in Cairo, with temperatures reaching a high of just 22°C and a low of 11°C, according to our favorite weather app.