22-05-2025
Egypt says no plan for tax hikes
Egypt has reassured citizens and investors that it has no plans to increase income taxes and value added.
The Egyptian Tax Authority (ETA) said it was reacting to media reports that it intends to raise value added rates and abolish exemptions on taxes on basic food commodities.
ETA said in a statement published on Tuesday that it is not considering any new taxes that could increase food prices that will increase the burden on citizens.
'The Tax Authority emphasises that supporting the national economy is a top priority for the state, which is primarily based on achieving sustainable economic and social development and providing a strong social safety network,' the statement said.
'This commitment is evident in the stability of the current tax policy and the absence of any plan or intention by the Authority to impose new tax increases, whether income taxes or the general rate of value-added tax,' it added.
ETA said it remains 'fully' committed to enhancing tax policy stability, with the aim of supporting government efforts to attract more investments and stimulate growth.
'ETA wants to emphasise the importance of protecting the interests of taxpayers as well as vulnerable groups and low-income groups,' the statement said.
'In this context, the Authority categorically denies reports circulating in some media outlets regarding any intention to increase the general value-added tax rate or cancel exemptions for basic food commodities," it said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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