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Egypt’s Finance Ministry ends administrative forfeiture on 3k defaulting taxpayers - Daily News Egypt

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Egypt’s Finance Ministry ends administrative forfeiture on 3k defaulting taxpayers

Defaulting taxpayers pay 1-10% of due taxes, amounting to EGP 159.7m


Minister of Finance Mohamed Maait has said that the administrative forfeiture on more than 3,000 defaulting taxpayers was removed during the period from April 2020 to July 2021, after they had paid 1-10% of due taxes, amounting to EGP 159.7m.

The step comes in the framework of the government’s efforts to settle tax disputes and support the economic sector. The Minister called on taxpayers to benefit from this initiative and settle their tax disputes.

He explained that 1,119 taxpayers paid 1% of the value of their due taxes, whether income tax or value-added tax, estimated at EGP 55.5m.

Maait added that 1,187 taxpayers paid 5% of the value of their due taxes, estimated at EGP 58.1m, with the rest of the dues to be paid in instalments, in accordance with the law.

Moreover, 700 taxpayers paid 10% of the value of their due income and value-added taxes, reaching EGP 46.1m, with the rest of the dues to be paid in instalments.

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https://dailyfeed.dailynewsegypt.com/2021/08/24/egypts-finance-ministry-ends-administrative-forfeiture-on-3k-defaulting-taxpayers/
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