Minerals Department Discusses Activating Electronic Invoicing and Receipts in the Gold Market

Cairo – Nadeh Imam: The Board of Directors of the Gold and Precious Metals Sector at the Egyptian Federation of Industries, chaired by Ehab Wasif, held a meeting to follow up on the results of a recent session convened by the sector with senior officials of the Egyptian Tax Authority. The discussion focused on mechanisms to activate the electronic invoicing and electronic receipt systems in the gold market, in line with the state’s efforts to advance digital transformation and enhance financial inclusion.

Ehab Wasif, head of the Gold and Precious Metals Sector, emphasized that the meeting reviewed the executive steps required to roll out the electronic invoicing and receipt systems among gold traders and manufacturers, thereby promoting greater organization and transparency within the market and facilitating the integration of all sector stakeholders into the electronic tax system.

He clarified that the sector is working in coordination with the Egyptian Tax Authority to develop an awareness program targeting traders and manufacturers, aimed at highlighting the importance of electronic invoicing and receipts, explaining their implementation mechanisms, and outlining the benefits the sector will gain from transitioning to a digital system. This initiative aims to strengthen financial inclusion and improve the efficiency of commercial transactions.

Wasif noted that the coming months will see intensified joint meetings and workshops with relevant authorities to prepare sector workers to engage with the new system. He pointed out that the next four months will witness significant progress in tax-related transactions within the gold market, as the sector continues to collaborate with the Egyptian Tax Authority to address any challenges that may arise during implementation.

The sector head stressed that developing the tax transaction system represents a crucial step toward modernizing the gold sector, enhancing its competitiveness, and consolidating a more organized and transparent business environment, aligning with the state’s direction toward digital transformation and broadening financial inclusion.