Egypt Expands Electronic Tax Payment Requirements
By Lorys Charalambous, Tax-News.com, Cyprus
26 December 2014
Under Law No. 201 of 2014, Egypt is to require financial services companies and public sector companies to pay corporation tax electronically.
The move was announced by the Minister of Finance, Hany Kadry Dimian. He said that electronic payments would speed processing times, be safer than cash payments, and address the problem of checks that fail to clear.
Dimian added that the system would be implemented over a transitional period, and it will be expanded later to cover sales tax.
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