Finance Minister Mohamed Maait stressed continued cooperation with the Global Forum on Transparency and Exchange of Information for Tax Purposes.
He made the remarks on Tuesday on the fringe of his participation in the G20 meetings in New Delhi.
He said: “We are looking forward to offering more support for developing countries in collecting their international tax dues, in light of the updates of the 2023 roadmap of the Organization for Economic Co-operation and Development (OECD) on developing countries and international taxation that was endorsed by the G20.”
He underlined support for international efforts to eliminate tax evasion and improve conflict settlement mechanisms.
The minister highlighted continued development of tax legislations environment in accordance with international standards in order to protect Egypt’s rights of tax dues from multinational companies working in the country in addition to benefiting from modern electronic systems and artificial intelligence.
He added that digitizing tax system is meant to realize justice in business community competition, noting that tax revenues rose by 23.1 percent in the previous fiscal year.
Source: State Information Service Egypt