Egypt rolls out e-invoicing in various phases
Total number of companies that joined the electronic invoice system during the first (November 15, 2020) and second phases (February 15, 2021) reached nearly 400 companies, according to Minister of Finance Mohamed Maait.
Approximately 1.25 million documents were processed through the system. In Egypt, certain VAT-registered businesses must issue electronic tax invoices that include the electronic signature of its issuer and the standard code for the good or service subject to the invoice approved by the Egyptian tax authorities.
What is next?
The third phase, scheduled for 15 May 2021. In July 2021, all large Egyptian taxpayers should use e-invoicing. In 2022, e-invoicing will be mandatory for all companies working in Egypt. The fourth phase, will make e-invoicing mandatory for all B2G filing. Companies working for the Egyptian government (B2G) need to have set up e-invoicing starting from July 2021, independent of size and turnover.
