The Ministry of Finance and the Egyptian Tax Authority have launched a new awareness campaign, titled “A New Chapter Begins,” during the holy month of Ramadan, according to a statement published on Sunday, 2 March. The campaign aims to inform the public about a comprehensive package of tax exemptions and incentives recently approved by the Egyptian government and ratified by the House of Representatives. The newly introduced tax relief measures target businesses with an annual turnover exceeding EGP 20 million (USD 395,113). These businesses will benefit from exemptions on several taxes and fees, including stamp duty, development fees, and registration and documentation fees. Capital gains tax and dividend tax will also be waived, along with the system of advance payments or deductions under the tax account. Digitalization will be a key component of these reforms, with taxpayers, particularly those earning less than EGP 20 million (USD 395,000), being encouraged to adopt electronic invoicing and receipts. The new measures aim to simplify taxation, with businesses subject to a proportional tax based on their annual revenue, removing the need to calculate net profits. The first tax audit for these businesses will only…
