- The Egyptian post joins the electronic system.

- New facilities for taxpayers.

Dr. Al Morsy Hegazy, Minister of Finance will open, on Thursday 31^st  of January, the second annual conference on E-payment of outstanding taxes held by the Egyptian Tax Authority in cooperation with E-Finance.

Mr. Mamdouh Omar, the Head of Tax Authority declared that the 26commercial banks participating in E-payment system, a large number of chairmen of several industrial, trade and service companies, who are members of the Large Taxpayer Center and representatives of the Egyptian Society for Accountants & Auditors and Tax experts as well as heads of tax offices and directorates, will contribute in the said conference. He added that the Minister of Finance will announce, during the conference, the facilities provided by the Ministry to taxpayers in tax returns submission season, started from 1^st January, presenting all measures and mechanisms taken by the Ministry and tax authority to secure receipts from tax returns.

Mr. Mamdouh Omar explained that E-payment system is in the top of such mechanisms, which contributes in receipts security as well as in supporting general budget through shortening the period needed for traditional tax payment methods (cash or checks), (two weeks).Instead of waiting for two weeks till the entry of such payments in the Ministry of Finance’s accounts in the CBE, to be allocated and expended in budget programs. E-payments promptly become at the disposal of the Ministry from the following day after tax collection. Consequently, this is positively reflected on the liquidity available to the government, leading to reducing issuance of Treasury bills and notes, which means reducing the public debt and the interest rate burdens incurred by the state’s general budget.

Mr. Ibrahim Sarhan, the chairman of E-Finance, noted that Mr. Mohamed Al Salhawy the head of Egyptian Customs Authority, Customs leaders and Mr. Khaled Abbas, deputy to the head of Egyptian Post Authority will participate in the conference to announce the great development of the Post’s role in tax collection through its offices across the country.

The E-Payment system simplifies the payment of outstanding taxes and fees by secured and safe electronic channels availed in 1845 branches of the 26 commercial banks, through which taxpayer can pay taxes in seconds instead of going to tax directorates.