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Tax experts urge new accounting standards
The Egyptian Tax Experts Association has called for the development of accounting and auditing standards in Egypt with the aim of improving the quality of financial data and reducing financial manipulation, especially in light of the lack of a clear legislative framework governing the profession. They emphasized that updating the rules will help align with international standards, encourage sustainability, and enhance market confidence. Additionally, the reforms aim to simplify procedures and reduce tax burdens on small and medium-sized enterprises. Deputy Ashraf Abdel Ghani explained that reshaping the Accounting Standards Development Committee is part of efforts to improve the business environment and empower certified accountants to play a greater role within the tax system.
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