The government will launch an electronic payment system for the collection of real estate taxes soon, MENA reports.

“The Ministry of Finance is seeking to automate the entire tax system. Electronic transactions will not be limited to payment and collection, but will rather include tax assessment of all companies in addition to tax returns. We will also start with the largest taxpayers,” Deputy Minister of Finance for Tax Policy Amr Al-Munir says during the fifth Electronic Payment and Collection Conference on April 5.

The ministry is also seeking to integrate the informal economy into the official one, which expands the tax base and increases tax revenues. “To achieve this goal, there must be incentives like switching from the traditional tax payment system to the electronic one,” Al-Munir adds.