Cairo - Mubasher: eTax, the technology and tax solutions subsidiary of e-finance for Digital and Financial Investments and the Ministry of Finance, has signed an agreement with the Egyptian Real Estate Tax Authority (RETA) to implement the authority’s digitalisation framework.
The agreement is part of the Egyptian Ministry of Finance's digitalisation strategy for its affiliated agencies, according to a press release.
eTax has spearheaded the development of a comprehensive digitisation plan for the RETA in collaboration with various stakeholders.
The company will implement the digitisation strategy for the authority in stages, including crucial services such as an information portal, e-payment services, unified declarations, official registries, tax appeals, and other automated services.
Under the agreement, eTax will provide technical operation, analysis, design, development, and maintenance of the RETA’s applications, along with quality management and technical support.
Additionally, eTax will collaborate with e‐finance on technical hosting, cybersecurity services, and other technical support previously unused by the authority.
Alongside this agreement, eTax is working on future strategies to enhance the authority’s digital transformation, including launching services across its network, offering real estate inventory and tax valuation services, aiming to simplify service provision and support the Ministry of Finance in collecting dues efficiently.
Ibrahim Sarhan, Chairman and Managing Director of e‐finance for Digital and Financial Investments, said: “This agreement signifies the launch of a new and pivotal phase for the Group, and its associated companies, in moving forward with its ambitious project that aims to digitise the entire suite of services and transactions provided by the Ministry of Finance and its associated agencies.”
Khaled Abdel Ghany, Managing Director of eTax, stated: “This agreement sees the company continue building on its successful track record of contributing to projects that aim to provide a unique and technically superior tax system across Egypt and the entire region, and which have already resulted in an increase in tax revenues”.
It is worth noting that the consolidated net profit after the non-controlling interest (NCI) of e-finance leapt surged to EGP 462.50 million in the first quarter (Q1) of 2024 from EGP 281.90 million in Q1-23.
