Finance Min. Denies Taxing Social Media Users

The Egyptian Finance Ministry denied on Saturday reports over imposing taxes on social media  applications and platforms.

The ministry added that it is necessary to modernize the tax system in a way that contributes to the integration of the digital economy in the national economy in accordance with the latest international experience in a way that stimulates investment.

The ministry pointed out that the integration of e-commerce to the tax system is being considered to cope with the global economic changes and the fast-evolving digital economy.

"It is necessary to modernize the tax system in a way that contributes to the integration of the digital economy into the national economy, according to the latest international experience, with the aim to stimulate investment," it added.

The ministry stressed that the principles of the "Yaounde Declaration" come in line with Egypt's measures, structural and legislative reforms to modernize the tax system and localize international expertise.

It pointed out that Egypt's accession to the declaration supports the role of the Ministry of Finance in building revenues, and keeping up with global practices through the exchange of experiences with international organizations such as the Organization for Economic Cooperation and Development (OECD).