5 Major Developments in Egypt

5 Major Developments in Egypt

• Payment orders of tax-free car import initiative hit $307mln
• Egypt Provides VAT Guidelines for Digital Services and Other Remote Services Provided by Non-Residents
• Ministry of Finance Amends Procedure for Payment of VAT on Import of Machinery and Equipment
• 4th group of taxpayers list in Egypt about e-Receipt system
• Egypt’s Parliament approves new amendments to facilitate tax-free car import for expats

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Customs

• Egypt’s Parliament approves new amendments to facilitate tax-free car import for expats

• Deadline for joining e-invoice system set at April 1: Egypt’s ministry

• Egypt’s customs authority collects over $403mln from 2 ports in December

Deduction (Input Tax Credit)

• Any Costs or Expenses that are not Proven in the Electronic Invoice will not be Considered Starting Next April

• VAT on digital services foreign providers

Digital Services Tax

• KPMG Week in Tax: 20 – 24 March 2023

• Egypt Provides VAT Guidelines for Digital Services and Other Remote Services Provided by Non-Residents

• VAT on digital services foreign providers

E-Commerce / Electronic services

• Guidance clarifying VAT on digital services regime

• Egypt Amends its Rules on VAT for Non-Resident Suppliers in E-Commerce Transactions

• Egypt to launch simplified VAT registration for non-resident companies selling digital services

• New Amendments to VAT act Executive Regulation No. 66 of 2017

E-Invoicing

• 4th group of taxpayers list in Egypt about e-Receipt system

• Any Costs or Expenses that are not Proven in the Electronic Invoice will not be Considered Starting Next April

• How does E-Invoicing work in Egypt?

• Deadline for joining e-invoice system set at April 1: Egypt’s ministry

• Key Facts about Egypt’s Electronic Invoicing System

• Egypt Publishes Updated Guides on E-invoicing Obligations

• Egypt not to impose new taxes on economic activities: Maait

• Egypt Extends Final Deadline for Individual Entities to Register for E-Invoicing

Environmental Tax

• Egypt: A voluntary carbon market

Exemption

• Payment orders of tax-free car import initiative hit $307mln

• Egypt’s Parliament approves new amendments to facilitate tax-free car import for expats
• New Amendments to VAT act Executive Regulation No. 66 of 2017

• Egypt amends some provisions of VAT’s executive regulations

• Finance min. issues amendments to some provisions of VAT law

• MOF provides guidance about descriptions of goods and services exempt from VAT

Export

• Deadline for joining e-invoice system set at April 1: Egypt’s ministry

Importation

• Payment orders of tax-free car import initiative hit $307mln
• Egypt Amends its Rules on VAT for Non-Resident Suppliers in E-Commerce Transactions

• Ministry of Finance Amends Procedure for Payment of VAT on Import of Machinery and Equipment

• Egypt’s Parliament approves new amendments to facilitate tax-free car import for expats

• Egypt approves lifting taxes on imported mobile phones components

• Deadline for joining e-invoice system set at April 1: Egypt’s ministry
• Egypt amends some provisions of VAT’s executive regulations
• Egypt’s customs authority collects over $403mln from 2 ports in December

Legislative Change

• Egypt approves lifting taxes on imported mobile phones components

Liability (Reverse Charge/Withholding)

• Egypt Amends its Rules on VAT for Non-Resident Suppliers in E-Commerce Transactions

Rate

• Finance min. issues amendments to some provisions of VAT law

Refund

• Egypt Amends its Rules on VAT for Non-Resident Suppliers in E-Commerce Transactions
• Finance min. issues amendments to some provisions of VAT law

Registration

• Egypt Amends its Rules on VAT for Non-Resident Suppliers in E-Commerce Transactions
• Egypt to launch simplified VAT registration for non-resident companies selling digital services

Reporting / Compliance

• Deadline for joining e-invoice system set at April 1: Egypt’s ministry

Tax Authorities / Penalties

• Egypt’s customs authority collects over $403mln from 2 ports in December

• Egypt not to impose new taxes on economic activities: Maait