Egypt Brings Back the Tax Return; Here Are the New Rules, Regulations, and Restrictions

The Head of the Egyptian Tax Authority, Reda Abdel Kader announced the start of the tax return season for the year 2020-2021. He also clarified in a statement that the Egyptian Tax Authority will receive tax returns for the year 2020, from January 1st to March 31st 2021, for nationals electronically.

Abdel Kader added that the authority will also accept tax declarations of businesses and individuals from the first of January until the first of May 2021, or within 4 months from the date of the end of the company’s financial year electronically.

One of the first steps is to register on the Egyptian Tax Authority’s website; people are encouraged to do so as soon as possible so as to avoid putting pressure on the site at the end of the season, which may negatively affect the quality and efficiency of the electronic submission service. Minister of Finance Mohamed Maait also clarified the importance of the digital transformation project in order to modernize and automate the tax administration system as the “electronic declarations system” that contributes to raising the efficiency of tax examination and collection.

Maait explained that all taxpayers, be it individuals or businesses, are obligated to submit the tax declaration electronically. This electronic system aims to keep pace with the global system and provide an accurate database of buying and selling transactions at the state level.

WE SAID THIS: Check out Egypt Is Set To Get Its Very Own Camera On The International Space Station; Here’s Why This Matters!