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:
- Requirement for e-commerce businesses with annual revenues of up to EGP 500,000 to register for VAT;
- Requirement for businesses to join the e-Invoicing system by 15 September 2021; and
- 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