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Monday, 3 October 2016

Gov’t to set simplified tax structure for SMEs within six months -El Monayer

The Finance Ministry is working on setting up a “simplified” tax structure for SMEs and microenterprises that should be ready within six months, Deputy Finance Minister Amr El Monayer told Al Masry Al Youm. The system will included requirements of the income tax and VAT, he says, for business that have a turnover of EGP 50k-500k. El Monayer says the new structure will support integrating the informal economy to the formal sectors and reduce tax evasion.

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