Automation of tax and customs systems to be accelerated to stimulate production, says Maait
Latest in Highlight
Full exemption of delay fines will be granted to those who pay their overdue taxes before new facilities are issued
Finance Ministry to provide EGP 3bn as guarantee for bank loans to tourist, hotel establishments at 5% annual interest
Budget revenues down EGP 75bn, of which EGP 65bn decline in tax revenues
Export Development Fund disburses EGP 2.133bn in export subsidies from January to April
In a statement, Thursday, Maait said that in implementing the directives, an additional EGP 2bn will also be made available between now and June, to pay delayed dues to exporters
Export Development Fund spends EGP 291m on 12 companies under stimulating investment initiative
Egypt is first in emerging countries for debt reduction, second in budget surplus
Under this agreement, the government is committed to paying 20% of the dues before the month’s end, 20% during the first quarter of the next fiscal year, and the rest over three years.
This aims to ensure the sustainability of the quality of performance, speed, and accuracy of delivery in a manner that reduces the customs release time and costs of clearance. It also targets improving Egypt’s ranking in the World Bank’s “Logistics Performance Index” which will coincide with better facilitating cross-border trade.