Egypt’s House of Representatives gave final approval on Monday to a government-drafted bill amending several provisions of the Income Tax Law issued under Law No. 91 of 2005.
The approval came during a plenary session chaired by Speaker Hisham Badawi.
The bill is considered one of the most important economic pieces of legislation discussed by parliament during the current session. It comes as part of the wider tax reform path led by the Ministry of Finance and the Egyptian Tax Authority.
The amendments aim to simplify tax procedures, reduce administrative burdens on taxpayers, and encourage local and foreign investment.
A report by the joint parliamentary committee said the bill seeks to update several tax provisions after practical application of the current law showed the need for amendments.
The report added that the legislation aims to strike a balance between protecting the rights of the public treasury and supporting economic development requirements.
It also seeks to improve the business environment and strengthen the competitiveness of the Egyptian economy.
Follow the latest news on Google News
