Egypt’s President Abdel Fattah El-Sisi directed the government to continue working to achieve financial discipline in the general budget, while taking all measures to maintain the state’s safe financial and economic track in this regard.
The President’s remarks came during his meeting on Tuesday with Prime Minister Moustafa Madbouli, Minister of Finance Mohamed Maait, Deputy Minister of Finance for Financial Policies Ahmed Kjok and Deputy Minister of Finance for the Public Treasury Ihab Abu Eish, Presidency Spokesman Ambassador Bassam Radi said.
During the meeting, the President also directed the government to expedite the executive steps to implement digital transformation and financial inclusion in a way that contributes to improving the financial performance of the state in general as well as facilitating measures for the citizens. In the same context, the President called for enhancing efforts to upgrade tax procedures and use automation and advanced electronic systems.
This, he added, would contribute to encouraging economic activity and ensuring full and accurate collection of state revenues and dues for the benefit of the national economy through limiting the informal economy, in line with achieving the principle of governance and optimal management of state resources.
In the same context, the President called for the completion of the automation of salaries and labour income taxes for all budgetary agencies and economic bodies by the end of the current year as well as the speedy implementation of the value-added tax refund project for tourists with the aim of encouraging shopping tourism in Egypt.
The President was also briefed on the latest developments in the implementation of the electronic delivery system for consumers, which has been experimentally implemented since April 15. The mandatory application of the system will start at the beginning of next July.
The developments of the application of the electronic billing system were also presented, as the number of those registered on the system exceeded 70,000, and more than 210 million bills were registered.
The executive situation of automation of tax procedures and the results achieved by tax offices, which activated the mechanisation system were also reviewed, as there is 18% increase in the number of individuals who submitted income declarations due to data cleansing, follow-up and automation work.
The President also highlighted the need to continue efforts to automate the customs system as well as adherence to international standards for imported goods through the implementation of the pre-registration system for shipments in a complete electronic manner, starting from the beginning of this month. He also directed the government to expedite the completion of efforts that would help in reducing the time of customs release.
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