Egypt is undertaking significant efforts to improve its investment climate. These efforts include streamlining new cities and modernizing administrative processes. This aims to provide a comprehensive and attractive environment for investors.
During discussions with the media, "Al-Wathiq Billah" highlighted several key initiatives. These include comprehensive tax reforms, updating the tax system, and implementing reductions and expansions in mandatory fees. These measures are designed to enable investors to accurately assess their obligations.
Furthermore, some entities previously subject to taxes of up to 40% are being reviewed. The Minister of Investment is advocating for a comprehensive review of all fees and regulations. This is to ensure they are fair and aligned with investment realities. These policy shifts are focused on eliminating random fees and adopting a clear vision for investors.
The American experience was presented, noting that former US President Donald Trump aimed to create a tax deficit in American trade balance of $2.2 trillion. This led to the adoption of policies to enhance the competitiveness of American companies. It also sought to balance exports and imports.
However, there are warnings that the global tax wave could push countries to impose additional corporate taxes. This could lead to higher costs for consumers. Global markets are expected to see rising prices as a result of these changes. This will significantly impact the global trade movement.