The official gazette publishes the decision to collect the tax on the proceeds of the treasury bills

The Egyptian Gazette published the official gazette issued today, Wednesday, regarding the collection of tax on the returns of treasury bills, and the decision stipulated that, starting from the first of March 2021, the payment of the tax on the returns of treasury bills will be through the electronic payment system of the payments and receipts server of the Ministry of Finance.

According to the guideline advised on the website of the Egyptian Tax Authority, payment is made according to Forms 2 and 3, relating to the declaration of the tax deducted from the source on the returns of bonds and treasury bills, and with the exception of this, it is permissible with the approval of the Minister of Finance to accept payment of the tax by any of the prescribed non-cash payment methods. To pay tax dues if payment is not made by the aforementioned payment method.

The decision said that it came after reviewing the Income Tax Law promulgated by Law No. 91 of 2005 and its implementing regulations, the law regulating the use of non-cash means of payment promulgated by Law No. 18 of 2019 and its implementing regulations, and the Unified Tax Procedures Law promulgated by Law No. 206 of 2020.