Mohamed Maait, Egyptian Minister of Finance, said on Sunday that the supplementary agreement for the Protocol to Avoid Double Taxation and Prevent Evasion of Income Tax, which was signed with the Emirati side on the sidelines of its participation in the Eighth Public Finance Forum in the Arab Countries, in Dubai, comes within the framework of the updates that The two brotherly countries are keen to conduct it; In order to enhance opportunities for joint investment cooperation in line with the growth of bilateral relations in various fields, especially economic ones, in light of the global challenges imposed by the necessity of coordinating Arab efforts in order to have a greater ability to deal flexibly with the negative repercussions and extended disturbances in supply chains, in a manner It requires stimulating investment, deepening the role of the private sector in the development path, increasing its contributions to economic activity, as well as enhancing productive capabilities.
The Egyptian Minister continued, saying: “We are keen to provide all facilities and overcome any tax or customs obstacles that may face Emirati investors and companies in Egypt, in a way that contributes to expanding their business base, investment and production activities, and increasing trade exchange between the two countries.”
Maait also called on the Emirati business community to benefit from the measures taken by the Egyptian government to stimulate production and export in various fields, including the “golden licence,” the “state ownership policy document,” and “government proposals.”
He explained, on the sidelines of his participation in the eighth Public Finance Forum in the Arab Countries in Dubai, that the Egyptian government is continuing to automate the tax and customs systems and benefit from modern electronic systems and artificial intelligence to raise the level of tax and customs performance, which helps make these systems more developed, motivating and attractive to investment. Local and foreign.
Muhammad Maait, Minister of Finance, signed this agreement with Muhammad bin Hadi Al Husseini, Minister of State for Financial Affairs.
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