Author name: VCFO Consulting

A statement issued by the Ministry of Finance confirmed that the ministry finalized a draft of unified tax procedures law . The Ministry of Finance’s statement pointed out that this law aims to facilitate procedures for linking the collection of various taxes (Corporate tax, VAT, stamp duty and the development of the state’s financial resources) in order to prevent multiple procedures and facilitate the tax compliance for tax payers.

Financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way. Financial inclusion is defined as the availability and equality of opportunities to access financial services.

Business is continuously facing evolving markets and for the reasons of expanding more and more businesses. New standards are released, old ones are adapted and new interpretations made. This makes it crucial for organizations to be up-to-date on the latest developments.

Egypt’s Ministry of Finance issued Ministerial Decree No. 547 of 2018 (Decree No. 547), providing the authority for new transfer pricing guidelines to be published. On 23 October 2018, the Egyptian Tax Authority (ETA) published the new guidelines on its website.

International tax issues are a high priority issue on the political agenda globally, due to the significant increase in the integration of national economies and markets, which has placed strain on the international tax rules currently being enacted.

According to the Article no 27 of Law 95 of 1992 and Article 122 of the executive Regulations as amended by Ministerial Decree No. 40 of March 2018 of the same law, which defined holding companies that operate in the field of establishing companies that issue securities or increasing their capital for companies.