Finance minister El-Morsy Hegazy is expected to inaugurate the second annual conference for electronic tax payments on Thursday, and announce new techniques and facilities for an e-payment system.
The conference will be organised by the tax authority. It is expected to be attended by the heads of around 26 banks, and several important industry figures.
Head of the tax authority, Mamdouh Omar, said: “the minister of finance is going to declare the facilities provided by the ministry to financiers during the tax return period; this period started from January.”
The e-payment system will play a supporting role to ease the budget burden by reducing delays in tax returns. Electronic transfers will be made instantaneously to ministry of finance.
The e-system will provides speedy tax payment, through safe channels provided by 26 banks.
Head of the E-Finance Company, Ibrahim Sarhan, said: “The conference also will declare new improvements to postal collection.
Previously postal collection was diverted to a so called ‘silver account’ but in the future taxes will be forwarded directly to the “unified budget account” in the central bank.
Sarhan said: “The postal service offers around 1,500 branches together with around 1,800 bank branches, which means around 3,000 branches will collect taxes.”