Egypt’s Finance Ministry will lift restrictions on taxpayers who are overdue on their tax arrears payments within the legal due time, according to a statement on April 14th.

The taxpayer will be required to pay 5% of the pending arrears, with the remaining amount to be in installments over a minimum of two years.

This decision comes in line with President Abdel-Fattah el Sisi’s directives to support businesses amid the coronavirus outbreak by providing new facilitations to expedite the settlement of all tax disputes, the statement noted.

That facilitations are provided for income tax and the value-added tax.

The ministry will also ease pressure on taxpayers who do not submit the appeal on their tax estimations within the legal due time.

In later March, the ministry said the personal income tax will be ascending according to a “fair” scale to offer tax surplus for the low-income and above medium brackets.

 

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