Broadening of the e-invoicing system to include online activities

January 11, 2022by TPA Global0

For any company selling products or services online, the Egyptian Ministry of Finance (MoF) has announced the implementation of e-Invoicing System Procedures.

The procedures for the e-Invoicing system are designed to fight tax evasion. The Ministry of Finance has announced the following measures:

  1. Requirement for e-commerce businesses with annual revenues of up to EGP 500,000 to register for VAT;
  2. Requirement for businesses to join the e-Invoicing system by 15 September 2021; and
  3. Imposition of a fine between EGP 20,000 and EGP 100,000 or imprisonment of 3 to 5 years for non-compliance.

Effective date: N/A

Source

TPA Global

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