Egyptian Finance Minister Mohamed Maeet urged extending registration of individual entities with the Egyptian Tax Authority (ETA) e-invoice system, deadlined December 15, to April 30 as the last grace period.
Joint committees are formed bringing together ETA officials and different targeted segments to remove all challenges facing these brackets in this respect, added Maeet in statements Thursday.
All businesses and self-employed professionals in Egypt have to register with e-invoice system before April 30.
The new system, which the ETA has been working on since 2020, obliges all companies registered for value-added tax (VAT) and selling taxable goods or services to register and submit electronic invoices on the ETA’s online portal.
The law affects self-employed professionals, such as lawyers, consultants, artists, doctors, and engineers.
Under the new system, any entity, whether company or individual, that sells a product or service must register on the ETA’s e-invoicing website.
The account will also serve as that entity’s tax return. In order to bill a customer, the entity will need to produce electronic invoices that are automatically given a serial number and copies automatically filed as income on that entity’s tax return.
Discussion about this post