Egypt’s Minister of Finance Mohamed Maeet announced on Monday that work on fulfilling presidential directives is underway to strengthen the governance of the state financial system.
Procedures are to be in line with international, state-of-the-art practices for the consistent shift to Digital Egypt and achieve financial inclusion, a ministry statement said on Monday.
Thus the principles of governance and transparency will be enhanced and economic goals will be met to provide for public needs, the minister added.
The e-invoice governance platform has been launched at state administrative bodies, Maeet said.
The move aims to contribute to offer state administrative bodies facilities in concluding contracts, to meet the needs of the local markets of purchase, services and contracting works, with enforcing requirements for tax registration, and preserving tax rights of those who are dealing with the state’s administrative apparatus, Maeet added.
The tow systems of e-payment and e-invoicing through the newly launched digital platform will not only boost governance, but also best exploit state resources, upgrade the efficiency of government expenditure, boost efforts of merging non-official economy, and achieve financial inclusion, he said.
Maeet stressed that those not registered in the e-invoicing system will not be allowed to deal with the state administrative bodies as of December 1, adding that the mechanised systems “have made us more able to achieve tax justice, and stimulate investments in a manner that contributes to boosting ongoing efforts to realise comprehensive and sustainable development, and back the business community.
