- Introduction of e-Invoicing in Egypt: Egypt is implementing mandatory e-invoicing and e-reporting requirements to enhance tax compliance, increase transparency, and curb tax evasion, with all VAT-registered businesses required to issue electronic invoices for B2B, B2C, and B2G transactions through a centralized government platform.
- Phased Rollout and Affected Parties: The e-invoicing mandate began in November 2020 and has been rolled out in phases, initially targeting large taxpayers and gradually including medium and small enterprises, professionals, and foreign entities, with full compliance expected by April 2023 and additional requirements for B2C transactions starting January 2025.
- Compliance Requirements and Consequences: Businesses must register with the Egyptian Tax Authority, integrate their systems for real-time compliance, and ensure invoices meet specific content and format standards. Non-compliance can lead to penalties, loss of VAT deduction rights, exclusion from government tenders, and potential legal action for tax evasion.
Source VATit
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
