On Thursday, Finance Minister Mohamed Maait announced the deadline for implementing the electronic tax bill system for services and goods provided to final consumers.

The action is intended to ensure that the taxes paid by consumers for goods and services reach the state's treasury. It also aligns with attempts to integrate the non-official and official economies in a way that helps raise the volume of local product, meet economic and developmental goals, and contribute to boosting aspects of general expenses in order to improve people' living circumstances and services.

According to a statement released by the Finance Ministry, there are five stages to obliging financial institutions to register in the new system and produce electronic tax bills for services and goods delivered to final customers.

According to Maait, the system is based on the establishment of an electronic central system that allows the Egyptian Tax Authority to track all commercial activities of enterprises selling goods and providing services.

He added that the electronic tax bills system enables financers achieve a number of benefits, including facilitating tax inspection measures in a short period of time.