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