Increases in tax payments made using the country’s electronic payment system have recently rose to EGP 8bn per month, the official news agency MENA reported, citing Mohamed Fouad, Chairman of the Electronic Payment Center within the Ministry of Finance. This rate increased 20% during the period required to file tax returns, reaching its highest level in May, at EGP 15bn. Electronic payment included direct deductions from tax payer bank accounts and collecting of electronic checks.
In statements made Friday, Fouad stated that 3,320 branches belonging to 28 separate banks were taking part in the new electronic payment system. An additional 1,200 post offices have also begun taking part in the system, bringing the total number of participating payment stations to 4,520. He added that the system had been set up during July and August of last year. He stated that the operating hours of these branches had not been limited following the 30 June Revolution, keeping in mind that the electronic payment system allows customers to pay taxes and customs duties directly from their offices. All services are provided and ensured by the Ministry of Finance’s E-certification Authority.
He added that the average value of monthly customs duties rose to EGP 816m, a result of the system’s overall increase in recent months, in response to the demands of senior customs officials to have their current accounts entered into and included in government electronic payment systems. This has helped speed up the implementation of customs clearance procedures on imports. Regarding new plans to promote cooperation between the Central Bank of Egypt and the Ministry of Finance, he stated that the ministry sought to create an electronic payment system to help pay dues owed to government importers, ministries and public authorities. This would be done using the “direct orders added” device, which would add the value of supply services to special bank accounts belonging to importers, as opposed to using paper checks as a method of payment.
