Egypt makes e-invoicing mandatory for state-run firms as of July 2021

Cairo – Mubasher: Egypt’s Minister of Finance, Mohamed Maait, said that the cabinet decided to obligate all local administration units, state-run economic and service authorities, public-sector companies, and other public legal entities to register in the electronic invoicing system no later than 1 July 2021.

The decision covers all state-run companies and other entities selling services or goods that the country owns more than 50% of its capital, Maait added in a statement on Wednesday.

No agreements will be signed with suppliers, contractors, or service providers who are not registered in the e-invoicing system at the Egyptian Tax Authority, he noted. 

The e-invoicing system is a key step towards automating the tax declarations system, facilitating procedures for taxpayers, and combating tax evasion.

On 15 November, the Egyptian Tax Authority required 134 companies of the top corporate taxpayers to issue electronic tax invoices.   

The second phase of making e-invoices obligatory, which will begin on 15 February 2021, will include 350 companies, while the third phase, which will start on 15 May 2021, will include the remaining top corporate taxpayers.

Mubasher Contribution Time: 02-Dec-2020 12:19 (GMT)
Mubasher Last Update Time: 02-Dec-2020 12:19 (GMT)