Chairman of the Tax Authority Mahmoud Mohamed Aly announced that for the first time taxes can be paid by a visa card in three months. The card will look like an identity card with the tax statements p...

Chairman of the Tax Authority Mahmoud Mohamed Aly announced that for the first time taxes can be paid by a visa card in three months. The card will look like an identity card with the tax statements printed on it. Mr. Aly said that the authority’s target is to collect 14 billion pounds in taxes this year from large taxpayers who represent 15% of the total taxpaying community in Egypt. Mr. Aly explained that merging the sales and tax departments is not an impulsive act but a strategy which has been adopted by 116 countries.  He said the tax authority is not intending to return to the taxation idea where government has rounded up taxes in the past but the strategy is meant to offer quality services to taxpayers and help them submit sound tax returns. Advisor to the Minister Seif Katari  who is also supervisor to a formidable  tax center for large taxpayers in Madinat Nasr said more than one Arab country has requested counseling from Egypt on its new income tax law. The budget committee at the people’s assembly which has inspected the center has announced that the new law is opportune for the limited income employees, ruling out concerns that the new law is meant to benefit large taxpayers only. (source: Al-Akhbar)