Video Library - Tax Advice

Determine the taxable value

Determine the taxable value

Submit the value-added declaration (table items)

Raising table items on the tax portal

Non-cash payment law and the obligations of companies according to the law

A law was issued in late 2019 obligating the management of institutions not to use cash and cash transactions within the institution, even to pay salaries, dues or expenses, and this law obligated that dealings be through bank transfers.

What if the institution does not comply with this new law?

In this video, Mr. Tamer Naseer, Vice Chairman of the Board of Directors for Tax Systems, will explain the new law and the consequences that await those who do not submit to it.

How to register the company on the portal and prepare the value-added declaration

How to register the company and prepare the value-added declaration on the portal

Tax proof in Law 206 of 2020 -1

Electronic invoice and its requirements and data to be available in accordance with the law

Tax proof in Law 206 of 2020 -2

The data that must be available in the tax invoice and the treatment of paper documents issued before this law, what books and documents must be kept, the retention period, and when the burden of proof falls on the taxpayer and when it falls on the authority

Failure to pay the return is tantamount to not submitting the return according to Law 206 of 2020 and the amended return and its dates

Refund of overpaid tax, settlement of previous tax dues, non-payment of the return is tantamount to non-submission, when and how to submit the amended return, and when does the right to file the amended return forfeit

The difference between the term financier and taxpayer in Law 206 of 2020

Why did the law use the term financier or taxpayer and what is the difference between them?

The obligation of government agencies to respond to any request from the Tax Authority regarding the data of clients of the funders with the agencies

The obligation of government agencies to respond to any request from the Tax Authority regarding the data of clients of the taxpayers with these agencies for the employees of the tax authority who have the authority of judicial seizure.

Registration and the unified registration number with the authority in accordance with the articles of the Unified Tax Procedures Law

The tax registration dates with the authority in accordance with the articles of the law and the unified registration number and obligating all parties to deal only with the tax registration number of the taxpayer

Treatment of linked files and related persons in accordance with the provisions of Law 3

What data and files are required to be submitted to the Authority from the relevant persons, what is the main file and the local file, and what is the penalty for non-compliance 3

Obligations of activity licensing authorities to notify the financier

Activity licensing entities are obligated to notify on specific dates of issuing activity licenses to financiers, whether professionals or premises renting premises.

Treatment of linked files and related persons in accordance with the provisions of Law 1

What data and files are required to be submitted to the Authority from the relevant persons, what is the main file and the local file, and what is the penalty for non-compliance 1

Treatment of linked files and related persons in accordance with the provisions of Law 2

What data and files are required to be submitted to the Authority from the relevant persons, what is the main file and the local file, and what is the penalty for non-compliance 2

The rights and obligations of taxpayers according to the Unified Tax Procedures Law

The most important amendments in the rights and obligations of the financier and the taxpayer according to this law

Confidentiality of data and information and requesting information by the Tax Office in accordance with the Unified Tax Procedures Law

How can any entity obtain information about my tax file in the Department, and what are the authorities and rights of the Department to request data and documents?

Penalties in Law (206)

Learn about the penalties in Law (206)

Definition and simplified explanation of Law 206 of 2020 Unified Tax Procedures Law

Who is addressed by the provisions of this law, the beginning of the application of the law, the extent of its application, what is the general framework and general concept of the law, and the important general definitions in this law

The most important thing stated in Law (206)

Learn about the most important provisions of Law (206)

Value Added Tax Law

The purpose of law enforcement and law enforcement problems and the mechanism to overcome them

Tax planning

The tax generally constitutes a financial burden on the citizen, especially since he does not feel its direct benefit. Therefore, we find everyone trying to reduce the tax he is obligated to, either in an illegal way through tax evasion, which makes him vulnerable to punishment by law, or in a legal way, which is tax avoidance or planning.

Tax planning attempts to exploit all the opportunities, exemptions, benefits and facilities provided by the tax law and various legislations to reduce tax on citizens and companies.

One of the things that must be taken into account by the chartered accountant who will carry out the tax planning process is to be constantly informed of the latest laws and regulations because the tax law is continually changing.

Also, every chartered accountant should know the fundamental differences between tax evasion, avoidance and tax planning. Tax avoidance is the exploitation of a sudden and unplanned tax opportunity, while tax evasion relies on illegal methods to reduce taxes.

There are also elements that the accountant must study and consider when preparing financial planning, including reducing costs by recording all costs due deduction, using inventory pricing methods, recording all salaries and losses of past years, and others.

Tax planning strategies are the most complex thing that needs to be well-versed in all its aspects. For example, there are strategies to reduce the tax rate, strategies to obtain a tax deduction, strategies to reduce the tax burden on capital gains, and others.

There are many forms of tax planning that an accountant can exploit, such as local planning at the state level and the use of tax shelters. Tax shelters are countries where tax rates are almost non-existent or very low compared to the rest of the world.

These tax shelters are one of the tax reduction solutions that large companies can resort to, but there are many characteristics, types and complex strategies that require a lot of experience and professionalism in international tax laws; Therefore, not all legal accounting offices adopt it due to its complexity and difficulty in implementing.

As well as dealing with multinational companies, this requires studying the characteristics of these companies because their tax planning differs from that of local companies. As there are many branches of companies within several countries, and each country has a different tax law and legislation, dealing with them is more complex and challenging.

As for local tax planning, it is considered more straightforward and easier to implement, especially if the accountant knows all local laws, legislation and amendments to have a correct view of the permissibility of applying the tax plan locally to avoid making mistakes or tax violations.

Tax financial planning is not a simple thing you can do on your own. It is more complex than you think.

You need a professional chartered accountant who knows how to exploit loopholes in the tax law and take advantage of opportunities and amendments to reduce costs to the least possible… Do not search too much, as you are in the presence of the largest accounting office in Egypt and the strongest tax planning team, “The Egyptian Certified Public Accountants”.