Egypt government seeks to maintain tax policies for 10 next years

Egyptian Investment Minister Ashraf Salman said the government seeks to keep the country's tax policies for the coming ten years unchangeable to create some kind of tax stability that would help local and foreign investors set their investment strategies.
Introducing amendments more than once to tax laws harms the investment climate, Salman said on the sidelines of his participation in the EFG Hermes' 11th Annual One-on-One Conference in Dubai.
He said there is a progress in foreign investment rate as it hit in January and February of 2015 alone 1.08 billion dollars against 2.8 billion dollars in the entire 2014 and 3 billion dollars in 2013.
He expected the volume of foreign investments to rise to 8 billion dollars this year in light of the major national projects currently being raised at the bourse and the new laws regulating investments.
He said the government has been holding several meetings over the past few weeks to settle investors' problems and it succeeded to a large extend in removing them.
He said the government also seeks to cut down budget deficit to 10.5 percent.