e-Tax, a subsidiary of e-finance for Financial and Digital Investments and a technology, won a new contract to develop and operate a digital platform for managing electronic invoice and receipt cases for Egypt’s Ministry of Finance

The Minister of Finance Ahmed Kouchouk has issued a decree on establishing a central unit to facilitate customs and tax procedures for companies operating in the automotive industry.

The Ministry of Finance will establish a new unit, dubbed the Clearing Unit, to strike a balance between what is owed to investors and their tax liabilities, Nissreen Lasheen, Head of Investors Support Unit at the Ministry of Finance, told Arab Finance.

The Egyptian Customs Authority is currently working on reducing the customs clearance period via the pre-clearance system, the authority’s Deputy Head Ahmed Abou El Hassan said on the sidelines of the “Challenges and Opportunities Facing Investors” seminar organized by the British Egyptian Business Association (BEBA).

The new income tax law will be a surprise to all, as it was drafted in line with international tax authorities’ standards to foster the transparency-based relationship between the Egyptian Tax Authority (ETA) and taxpayers, Deputy Head of the ETA Sayed Saqr stated.