Sunday 20/April/2025 – 05:53 PM
Engineer Matthew Bishai, Chairman of the Internal Trade Committee of the General Division of importers of the General Union of Chambers of Commerce, said that President Abdel Fattah El -Sisi to replace the multiple fees imposed by government agencies with a unified tax on net profit represents a qualitative shift in the Egyptian business environment, and reflects a real trend towards reforming the investment climate from the roots.
Bishay stressed in a press statement, that the challenges facing investors are not limited to high fees, but in their repetition and multiplicity of crucial parties, which confuses market accounts and disrupts the decisions of expansion and pumping new investments, noting that the presence of a unified tax on the net profit will create legislative stability and clarity in financial treatment with the state, which is what the markets strongly need at this stage.
Sisi decisions to support investment
Bashi added: The commercial sector, especially the category of importers, has suffered a lot from the absence of a unified vision in financial dealing with government agencies, and with this presidential guidance, we see a real beginning of a new stage of transparency and competence in the relationship between the state and the private sector.
Beshay explained that this decision not only serves large investors, but also opens the door for small and medium -sized companies that were negatively affected by the scattered and non -disciplined fees, stressing that tax justice is the basis for any competitive and flexible economy.
He continued Bishay: We look forward to an effective and rapid application of this vision, with the need for a real partnership between the government and the General Union of Chambers of Commerce in formulating mechanisms, in order to ensure the preservation of everyone’s interests and enhance the ability of the national economy to recover and sustainable growth.
