Egypt’s Minister of Finance Mohamed Maait asserted that all the companies operating in Egypt will join the electronic invoice system in December, adding that as of April 2023 only electronic bills will be taken into consideration to prove costs and expenditures when presenting taxes reports.
In statements on Tuesday, Maait said that the Ministry of Finance succeeded in applying the e-bill system and more than 313 million electronic documents were uploaded until now.
This developed system along with other electronic systems contribute to achieving tax justice between the different financers and merging the non-official economy into the official one and increasing the volume of local product to Egypt and acquiring the dues of the state’s treasury.
The e-invoice system focuses on momentary exchange of bills in a digital form without counting on paper transactions to count the tax community to facilitate the measures of tax review of the companies in the least possible time.
Meanwhile, Head of Egyptian Tax Authority Mokhtar Tawfiq asserted that a timetable was set to oblige the registered companies in the governorates to issue electronic tax bills about their goods and services.
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