Tax – CC via The Blue Diamond Gallery
CAIRO – April 21, 2022: Egypt’s tax authority on Wednesday urged companies to quickly join the seventh stage of the mandatory e-invoicing system before the June 15 deadline.
Reda Abdel Qader, chairman of the authority, called on companies obliged to join the system in its seventh phase, to quickly implement registration procedures as well as obtain the electronic stamp before June 15.
These companies must create an account where they register their products and services on the tax administration platform. Through their account, they register all their invoices which the authority verifies before sending a notification to the recipient. The authority will then be able to track each transaction in the client’s regular tax returns, which will include the invoice.
Abdel Qader also cited Article 35 of the Unified Tax Procedures Law, which stipulates that companies and legal persons are required to register their sales and purchases on the electronic invoicing system. Article 37 of the same law stipulates that every taxpayer is required to issue an invoice or receipt in electronic form.
The authority will take all legal measures, including referring companies that have not committed to join the system in accordance with the provisions of the law on unified tax procedures to the prosecution, Abdel Qader said.