ETS urges reappraising tax policies, amalgamating formal, informal economies

Egyptian Tax Society (ETS) Chairman Ahmed Shawky called for reviewing the Egyptian Tax Authority policies and getting the informal economy to be part of the formal economy.

Applying the value-added tax (VAT) will help amalgamating formal and informal economies, he said on Tuesday during a conference on mechanisms for applying VAT successfully.

During the conference, Finance Minister Hany Kadry Demian said the government has been adopting a three-pronged economic reform plan.

The plan includes economic policies structure reforms, social protection policy and investment projects, such as the Suez Canal axis project.

He said the government seeks to curb inflation and up employment rates.