The global trend of Continuous Transaction Controls (CTCs), having spread from Latin America to Europe and more recently to Asia, is now increasingly gaining popularity in Africa. Egypt is modernizing its tax control system, and one of the most important elements of this is implementing the digital processing of invoices.
The electronic invoice project is one of the pillars of the comprehensive digital transformation of the Egyptian tax system. The project’s aim is to create a central solution that enables the Egyptian Tax Authority (ETA) to follow all business transactions between companies (B2B), through the instant exchange of invoice data in electronic format. The e-invoicing platform will enable digital capturing of invoices circulating in the country starting with B2B invoices and later also business to consumer (B2C) invoices.
Source: SOVOS
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