CAIRO – Egyptian Finance Minister Mohamed Maait said that there will be no room for arbitrary assessment after digitising the tax system and using the electronic invoice system (e-invoice).
The State is keen on exerting painstaking efforts to ramp up production and achieve tax justice, added the minister during his participation in the annual tax conference of Price House company.
The digital taxes systems play a crucial role in enhancing the State’s rights in tax collection, he went on to say.
In a statement issued by the Finance Ministry on Thursday, Maait affirmed that his ministry will not change the value of taxes levied on investors, despite the steeping challenges facing the global economy.
A conference will be held within the upcoming period with the representatives of the business community to announce the State’s tax policy over the next five years, he further said.
Thanks to applying the e-invoice system, the Finance Ministry has succeeded in increasing tax revenues by 20 per cent, he boasted.
Efforts are under way to prepare a draft law to finalise all the accumulated taxes files, he noted.
So far, as many as 295,000 companies have joined the electronic bill system, said the minister.
The ministry continues efforts related to unifying the databases of tax and customs payers, and link the electronic invoice system to the unified electronic platform for national trade, he made it clear.
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