Deputy urges end to harsh tax reviews
Member of Parliament Ashraf Abdel Ghaffar discussed the importance of integrating the Companies Law with Egypt's tax system, emphasizing that economic legislation cannot operate independently. He stated that this integration is key to attracting investments and creating a stable environment. He pointed out amendments to the Companies Law that include reducing the time for valuing in-kind contributions to 30 days, increasing the treasury shares limit to 20%, and simplifying financial forms. Additionally, he called for the issuance of a binding decision by the Ministry of Finance to endorse companies' financial statements and for digital transformation between the investment platform and the tax system. He also suggested exempting free treasury shares from taxes to encourage reinvestment.
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