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Electronic invoice draft law shall help in establishing accurate database for all commercial, financial transactions 

 

Ministry of Finance has recently issued a statement noting that the enforcement of the electronic invoice draft law prepared by the Ministry shall bring forward many positive economic effects. Namely, it will help in establishing an accurate database for all commercial transactions executed in the Egyptian markets. This shall allow taxable community to be effectively detected and more VAT taxpayers to  be registered, and hence improving  VAT revenues. Thanks to having a large database of taxpayers' transactions,  tax examination system will be improved and methods of financial policies will be more informed. more...