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Finance Minister working to integrate informal economy and broaden tax base

Finance Minister Mohamed Maait has announced plans to expand the tax base and increase revenue without burdening taxpayers. The focus is on accurately identifying members of the tax community.

The Egyptian government is actively working to integrate the informal economy into the formal system through the use of digital technology, automation, and electronic tax systems. Field campaigns and surveys are being conducted in Cairo and other areas to discourage tax evasion and ensure fair tax collection.

Recent field campaigns targeting 50,000 entities have resulted in a high compliance rate for income tax and VAT, leading to the collection of EGP 1.6 billion in tax arrears. The introduction of electronic tax systems has provided accurate data on commercial transactions through over one billion electronic invoices, which has enhanced tax administration and facilitated the integration of part of the informal economy, resulting in a 38% increase in tax revenue since the fiscal year began.

By Samantha Jones

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