Collection of government payments, and dues to be done electronically in various government agencies, starting January 2019, in an effort to boost financial inclusion and the government’s effort to shift towards a cashless society, according to a press statement issued by the Finance Ministry on Saturday.
The statement indicates that e-payment are to be mandatory and that payments, including tax and customs dues, which are more than EGP 100,000 will not be accepted by check or cash, excluding checks delivered prior to this date.
The ministerial decision stressed that in the case of non-compliance, administrative expenses will be collected at a rate of 10% of the amounts owed to government agencies up to a maximum of EGP 10,000 to cover the costs incurred by the state.
Moreover, the statement explained that e-payments system aims to reduce the cost of cash circulation and the automation of financial transactions, to facilitate the process to citizens, and overcome many of the routine procedures, consequently saving time and effort.
To achieve these goals the ministry is currently working to develop the infrastructure needed for the e-payment system, which includes internet lines, training of government employees, as well as working on the provision of electronic point of sale (POS) machines throughout the country and electronic cards (e-cards).
