Dr. Mohamed Maait, Minister of Finance,, said that the total amount that was waived within the law to override delay fines in return for paying part of the tax exceeded L.E.45 billions.
the law to override delay stipulates that the Ministry of Finance skips 65% of the delay and the additional tax fees stipulated in both the Customs Law, the Stamp Tax Law, the State Financial Resources Development Fee Law, the Income Tax Law, the General Sales Tax Law, the Tax –on-buildings Law and The added value tax law, provided that the remaining 35% is to be paid.
He added that the Ministry adopts decisions that benefit all taxpayers and contribute to increasing the financial solvency of companies and ending the cases of financial default resulting from financial obligations to turn the wheel of production.
He also referred to the initiative of the Ministry of Finance that was applied during coronavirus pandemic, where the tax was allowed to be paid in installments, and the real estate tax for the tourism sector was overridden. He said that as of next December, all tax procedures would be automated. The state has pumped investments to code and automate tax branch offices, outlets and tax centers for the benefit of the manufacturers.