Afterwards, the remaining companies will be joining the new system successively until the end of June, 2021, Maait added.

In a statement on Friday, the minister described this system as a major step towards digitization in efforts to achieve Egypt Vision 2030 and a key move to develop the tax system, in a way that helps collecting the dues of the state public treasury so as to contribute to achieving the financial and economic targets.

The e-receipt system is expected to revolutionize the way the tax system integrates with the business community to make it easier for those engaged in this field and help merge informal economy into the formal one, Maait said.

Egypt is one of the leading countries in the Arab world to apply the e-receipt system as part of the digitization project which is supported by the political leadership, he added.