1 February 2013

Egypt: Finance Ministry to Complete Review of Economic, Social Reform Program Next Week

Finance Minister El-Mursi El-Sayed Hegazi has stressed Egypt's consultations with the International Monetary Fund (IMF) are underway.

Addressing the opening ceremony of the second annual conference for electronic tax payments on Thursday 31/01/2013, Hegazi denied news reports about the postponement of the visit of the fund's mission to Cairo indefinitely. He said no invitation was extended so far to the mission to visit Egypt.

The minister added IMF mission will be invited after finalizing the review of the economic and social reform program by the government in light of developments in Egypt and the outcome of the societal dialogue about the program as well as the package of recent tax amendments.

Hegazi said the ministry will complete the review process next week and pass the program to the economic group and the Cabinet to set the exact date for the visit.

The conference was organized by E-Finance Company in cooperation with the tax authority.

The e-payment system will play a supporting role to ease the budget burden by reducing delays in tax returns.

Electronic transfers will be made instantaneously to the ministry of finance.

The e-system will provide speedy tax payment, through safe channels provided by 26 banks.

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