Egypt is preparing to launch the stimulus program “Your bill, your protection and your reward”

Dr. Mohamed Maait, the Egyptian Minister of Finance, confirmed that the Egyptian Ministry of Finance and the Egyptian Tax Authority are preparing to launch the stimulus program “Your bill, your protection and your reward”, which is the first program of its kind that makes the citizen an essential partner for the success of the electronic tax system, which we have come a long way and had the greatest impact on Tax revenues achieved despite the global economic conditions.

Maait explained that the program aims to create a new tax culture that urges and motivates the citizen through it to request a receipt or invoice from stores and shops, within the framework of the state’s plan to integrate the informal economy into the formal system, indicating that this step coincides with the state’s steps in transformation. Digital, financial inclusion and the transition to electronic systems such as the electronic invoice system and the electronic receipt system.

He explained that this program was designed to include a set of incentive mechanisms, including obtaining discounts and free vouchers for purchases, in addition to a periodic drawing of major prizes amounting to one million pounds on a regular basis, and other valuable in-kind gifts and prizes.

He pointed out that the pilot phase of the program, which will be launched in five major malls in Cairo, is to measure citizen interaction by offering immediate discounts as soon as the purchase transaction is sent through the cashier’s employee in the participating stores.

He added that the “Your Bill.. Your Protection and Your Prize” program will stimulate the tax community to encourage citizens to interact with tax systems and request receipts or invoices, explaining that Article No. 74 of the Value Added Tax Law and its executive regulations and amendments allow the Minister of Finance after the approval of the Council of Ministers, To provide a system of tax incentives for citizens and merchants, not exceeding 1% of the value-added tax proceeds, to encourage citizens to request the tax invoice from merchants.

Social Share

59,156FansLike
6,273FollowersFollow
5,805FollowersFollow

Newscast