Egypt Outlines Tax Reforms, Incentives to Boost Investments

Changes aimed at streamlining tax procedures, easing measures for small and micro-enterprises and quickly resolving disputes, Finance Minister Ahmed Kouchouk tells reporters.

• Measures include setting ceilings for fines, disputes
• Changes also aimed at bringing informal sectors into formal economy in bid to boost tax revenue
• Other measures to boost investments include corporate tax to be levied on net income, not on revenues or sales, Investment Minister Hassan El-Khatib tells reporters
• Export rebates to be paid within 90 days, Khatib says
• Egypt inflation rate not easing as quickly as hoped due to ongoing Mideast tension
  • Govt still targeting inflation rate of ...