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JLCC
- April 29, 2023
The season for submitting tax returns for legal persons ends on April 30, and the Ministry of Finance aims from this season to achieve a large percentage of the budget’s targets by collecting more than one trillion pounds in tax revenues during the current fiscal year, and “The Seventh Day” presents the most prominent questions about the season of tax returns.
Q- What is the season for filing tax returns?
C- The Egyptian Tax Authority receives the submission of tax returns for natural persons until March 31, and the season continues for legal persons represented in companies of persons and funds until the end of April.
Q- What are the preparations of the Tax Authority for submitting returns?
C- The tax centers (large taxpayers 1, major taxpayers 2, average taxpayers, and large and medium taxpayers in Lower Egypt) will continue to work on Friday and Saturday, April 28 and 29; To provide the necessary technical support to taxpayers, which facilitates them to submit returns and pay the tax due.
The Tax Authority also responds to all inquiries and provides technical support to taxpayers, and the Authority allocates the hotline 16395 to respond to inquiries and questions. The Media Unit in the Office of the Head of the Authority organizes daily online tax awareness seminars; In a way that contributes to building tax awareness, and overcoming any obstacles that may face the tax community, in a way that establishes the pillars of effective and fruitful communication with the tax community.
Q- What is the penalty for the companies’ delay in submitting the declarations season?
C- Companies that are late in submitting tax returns on time will be penalized, in accordance with the Unified Tax Procedures Law No. (206) of 2020, and in the event of a delay in submitting a tax return for a period not exceeding 60 days, the fine will be at a minimum of three thousand pounds and up to a maximum of 50 thousand pounds, and in the event of a delay in submitting the tax return for a period exceeding 60 days, the fine starts with 50 thousand pounds and reaches a maximum of 2 million pounds.
Q- Is there a mechanism for paying the tax in dollars?
C- The Egyptian Tax Authority has opened an account for the Authority in dollars in order to facilitate the supply of tax in dollars for those who wish from foreign companies that make their budgets in dollars.
Q- What is the last date for submitting a payroll tax return?
C- The end of April is the end of the period specified for submitting the quarterly return for payroll tax and its equivalent (Form 4 salaries) for the first period of the year 2023, showing the number of employees, the total salaries and the like paid during the previous three months, and the amounts withheld on account The tax and amounts paid to the Authority, and the amendments made to the number of employees, whether by increase or decrease.