Cairo – Mubasher: The Egyptian Ministry of Finance (MOF) has agreed to automate, unify, and simplify the procedures at the Egyptian Tax Authority (ETA) in collaboration with Ernst & Young (EY).
The London-based professional services firm has already set the conditions and terms for automating the regulations, finance minister Mohamed Maait said in a statement on Sunday.
A global tender has been announced and 12 companies showed interest in it, whereas only four firms intend to participate in the bid and only one company will be selected soon, the minister added.
The study conducted by EY requires several legislative amendments to be made through a draft law to unify procedures for both income tax and value-added tax (VAT), Maait highlighted.
The study also includes the development of the authority by merging income tax and VAT through new restructuring, he said.
The merging aims to boost the position of the tax authority among the developed countries, he stressed.
The new structure is currently being reviewed by the Central Agency For Organization & Administration and is set to be activated in the coming period, Maait noted.
