State to speed up collection of billions in back taxes

State to speed up collection of billions in back taxes

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Tue, 05/06/2012 - 16:37

Finance Minister Momtaz al-Saeed announced Tuesday that he has ordered the Egyptian Tax Authority to implement legal changes to help the state bring in billions of pounds in unpaid taxes.

He said the changes would speed up collection and facilitate taxation of small businesses.

The state is owed LE150 billion in uncollected taxes, Saeed told a meeting of the People’s Assembly's Budget and Planning Committee held to discuss tax revenue and the fiscal year 2012/13 state budget.

His directives include activating provincial tax appeal committees and facilitating payment measures for citizens.

Edited translation from MENA