**”Minister of Finance Unveils New Measures to Stimulate Investments and Attract Capital”**
The Minister of Finance announced the introduction of a new package of tax facilitation measures aimed at improving the relationship between investors and the Tax Authority, during a press conference attended by Dr. Mustafa Madbouly, the Prime Minister. The measures include:
- A simplified tax system for companies with annual revenues not exceeding 15 million EGP.
- Encouraging the integration of the informal economy into the formal economy.
- Allowing taxpayers to submit or amend tax returns for the periods from 2021 to 2023 without penalties.
- Simplifying tax returns and expanding the sample-based audit system.
- Implementing a risk management system in tax audits.
- Setting a maximum delay fee limit.
- Accelerating the settlement of tax disputes.
- Raising the exemption threshold for transfer pricing studies to 30 million EGP.
- Introducing a new centralized settlement mechanism for investors.
- Simplifying the VAT refund system.
- Applying a graduated legal approach for non-submission of tax returns based on annual revenue size.
- Expanding the tax base and improving citizen services.
- Enhancing the efficiency of the Tax Authority employees.
- Introducing a modern system to evaluate employees based on performance and the quality of services provided.
These measures aim to support the economy and attract investments