The Planning and Budget Committee in the House of Representatives has formed a sub-committee in order to develop the tax system over the upcoming period in conjunction with a package of laws recently approved by the parliament. There are plans to add Ashraf El-Araby, member of the economic committee, because of his tax experience and his management of the Egyptian Tax Authority (ETA) before 2011. “The tax system requires development, whether in terms of legislations and purification of existing laws, or in terms of human cadres in the tax authority in order to increase tax revenue, whether through cutting expenses, fighting tax evasion, or expanding the tax community,” the committee member said. The total number of cases of tax evasion during the first quarter of the fiscal year (FY) 2016/2017 reached 435, comprising a total value of EGP 700m. MP Al-Araby said in an interview with Daily News Egypt that a delegation from the International Monetary Fund, which visited Egypt in July, has offered technical support to develop the Egyptian tax system.

Source: Daily News Egypt December 04, 2016 16:00 UTC