الضرائب على الثروة وعلى الأرباح الرأسمالية : /Taxing Wealth and Capital Gains Concepts, possibilities and problems of application in Egypt

Abstract

تبحث هذه الورقة فى إمكانية وجود مساحة للإصلاح الضريبى فى مصر فى مجال الضريبة على الثروة. وتبدأ باستعراض بعض المفاهيم الخاصة بالضرائب على الثروة والتطور التاريخى والجدل حول هذه الضريبة فى الأدبيات. كما تقوم باستخلاص دروس مستفادة من تجارب بعض الدول. توضح مراجعة الأدبيات أن الحجج المدافعة عن فرض ضريبة على صافى الثروة أكثر وأقوى منطقاً من الحجج الرافضة لها. ومع ذلك فإن تجارب الدول توضح الصعوبات المرتبطة بإدارة مثل هذه الضريبة، لا سيما الصعوبات الفنية التى تتعلق بتقييم الأصول والصعوبات الإدارية. وقد أدت هذه الصعوبات ومقاومة أصحاب المصالح إلى تراجع كثير من الدول عن فرض الضرائب على الثروة.

The study investigates wealth taxes reform in Egypt. An extensive literature review shows that arguments favoring application of a wealth tax outweigh those against it. However countries experiences reveal several problems related to the administration of this tax, especially technical issues concerning asset evaluation and administration costs. In Egypt tax base is narrow and lacks equity. In 2014 the government introduced an additional income bracket so as to enhance the progressiveness of its income tax structure, as well as a capital gains tax on stock market transactions. These were steps in the right direction, though there is need for more reforms. Egypt had some experience with levying an inheritance tax. This tax was abolished in the nineties in context of policies of economic reform. This study suggests reintroducing a tax on the estate of the deceased. Obligatory legal registration of the estate before distribution to beneficiaries would reduce problems of tax administration. To diminish opportunities of evading this tax, it is advisable to levy a tax on gifts. It is also suggested that capital gains from the appreciation of agricultural lands should be taxed upon sale of such lands. Rich Egyptians have been benefiting from generous tax exemptions and reliefs. Therefore, levying a net wealth tax for one time and earmarking its receipts reduce Egypt’s public debt should be acceptable on equity as well as on fiscal grounds. Finally, wealth taxes must be designed in the context of a comprehensive reform of Egypt’s tax system.