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The state is stepping up its efforts to merge the informal and formal economies for the sake of achieving tax justice and leveling the playing field.
01.09.21 | Interesting article at Ahram Online

Egypt is set to launch a unified platform for electronic tax collection in September, which is designed to collect and document the taxes of all entities online, Minister of Finance Mohamed Maait announced on Monday.


 


The platform is anticipated to cover all tax types, including income taxes, freelance taxes, deductions and collection returns, value added taxes (VAT), and stamp taxes, with all transactions set to be paid electronically using non-cash payment methods, according to the minister.


“The state is stepping up its efforts to merge the informal and formal economies for the sake of achieving tax justice and leveling the playing field among taxpayers in the local market, as well as increasing the state’s public treasury revenues,” said Maait.


He also highlighted the importance of the projects the government has adopted to digitise tax collection, as they improve tax collection efficiency, curb tax evasion, and track commercial transactions between companies and consumers.