Minister of Finance Mohamed Maait responded to the Egyptian Insurance Brokers Association’s (EIBA) request and directed the Egyptian Tax Authority to ask the General Assembly of the Fatwa and Legislation Departments of the State Council to review its previous fatwa. It stated that the services provided by insurance brokers are subject to the table tax and that they are responsible for collecting it from the service users.
He said that the Tax Authority will follow the new opinion that the General Assembly of the Fatwa and Legislation Departments of the State Council decides on, after examining whether the services provided by insurance brokers are subject to the table tax. He also said that the government is committed to establishing tax justice.
Maait said this during his meeting with Adel Shaker, the head of EIBA, and Hazem Dawoud, the Vice President of the Association, in the presence of Rami Youssef, the Assistant Minister for Tax Policies, and Rasha Abdel-Aal, the Acting Head of the Tax Authority.
The Minister held an open meeting with the leaders of the Egyptian Tax Authority at its new headquarters in the Administrative Capital, at the same time as the start of the filing season. He highlighted the importance of expanding smart tax solutions to create a more advanced tax system. This would help encourage the business community to grow its productive activities and attract more investment flows, as well as integrate the informal economy.
Maait also stressed that automated systems help establish a tax justice system by reducing human intervention.
He told the tax employees that the cooperation of all parties would help achieve the tax, financial, and economic goals in light of the international crises, which put unprecedented pressure on revenues due to the slowdown in global economic activity, and on expenditures due to the increase in prices of goods and services, caused by the disruption of supply chains.
He added: “We will continue to provide young leaders who are capable of giving with advanced expertise. We believe that distinguished human cadres are what create strong and promising organisations. Moreover, transferring accumulated experience from current leaders to leaders of the first and second ranks can effectively improve the performance of the tax system sustainably.”
