FILE PHOTO: Finance Minister Mohamed Maait speaks during a news conference in Cairo, Egypt July 5, 2018. REUTERS/Mohamed Abd El Ghany/File Photo
CAIRO - 6 June 2021: Finance Minister Mohamed Ma’eit has issued bylaws of the Unified Tax Act, which is hoped to ease tax procedures in the country and overhaul the tax platform altogether.
Egypt is eyeing automated procedures, where income and value-added taxes, as well as financial development fees, are concerned, said Ma’eit in a statement Sunday.
It is part and parcel of a national project to build a comprehensive digital administrative system, the minister said.
Financers and taxpayers would, under this law, be able to follow up their tax services online without having to go to assessment and collection directorates, Ma’eit noted.
Passed last year, the Act introduces unified procedures of assessment and collection of direct and indirect taxes.
All documents, records and information related to taxes can be submitted in any language, provided that a certified translation from an accredited translator is attached.
Every taxpayer should have a unified tax registration number for all types of taxes and should include that number in all correspondences and transactions.
The Unified Tax Act is also meant to stimulate investment in the country and grant authorities better oversight on commercial transactions and tax accounts.