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Wednesday, 2 September 2020

FinMin tasks Ernst & Young to prepare electronic billing and taxation platform

The Finance Ministry tasked Ernst & Young with building its new electronic billing and tax payment platform — the mechanism through which companies and individuals will be filing their taxes, unnamed sources told the local press. The move to a new platform is provided for by the Unified Tax Act, which would create a single tax platform through which to file income tax, VAT, stamp tax, and real estate tax returns. Earlier this month, the Tax Authorities made it mandatory for companies to file their taxes electronically by November.

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