On Thursday 4th of Sep 2014, Egyptian Dutch Business Club hosted Egypt’s Tax Commissioner Dr. Mostafa Abdel Kader & Dutch Ambassador HE. Gerar Steeghs, at Cairo Conrad hotel. The discussion was moderated by Mr. Ayman Khattab (General Secretary of Egyptian Credit & Risk Association “ECRA”). This event targeted to elaborate new taxes laws amends for several joint business companies working in Egypt, and to absorb their complains & inquiries. Dr. Abdel Kader asserted on:
– Taxes provides three quarters of Egypt’s budget revenues. – Current Taxes to GDP ratio is 8% only, which is very low and still boosting investment.
– Applying new Capital Gain tax, didn’t affect trading volume at Egyptian Borse, as some were afraid of.
– Taxes Authorities performance needs development, and there is huge effort exerted to enhance.