Cairo – Mubasher: Egypt has successfully implemented the electronic invoice system on schedule in a bid to integrate the informal economy into the formal one towards a fair tax system.
The move aims at facilitating the tax collection process that will help the government enhance its financial governance and make the best use of the available resources, Minister of Finance Mohamed Maait said in a statement on Thursday.
So far, a total of 3,365 have joined the system and submitted 64 million e-invoices, averaging 500,000 per day. The system has uncovered more than 3,000 tax evasion cases with due taxes of EGP 3.8 billion.
