E-tax system reduces tax loss by EGP 44bln – FinMin

The implementation of electronic tax systems is proving to be a significant advancement in the governance of the tax community, according to recent statements from the Ministry of Finance.

The introduction of the risk case system for electronic invoices and receipts has notably reduced tax loss by approximately 44 billion Egyptian pounds. This system has facilitated better tracking and management of tax documentation, with over one billion documents now processed through the electronic invoice system, averaging nearly 40 million documents per month.

Additionally, the adoption of electronic receipts has been substantial, with more than 590 million receipts sent since the system’s launch. This technological advancement is part of a broader initiative to enhance the efficiency and transparency of tax administration in Egypt.

Looking forward, the Ministry of Finance aims to generalise the unified standards system for calculating wages and salaries tax by next December, further streamlining the tax process and ensuring consistency across the board.