Protecting the consumer’s right to the goods, services and facilitating the return of “goods” that do not conform to specifications
Integrating the informal economy. Increasing the gross domestic product. Achieving economic and development goals
Dr. Mohamed Maait, Minister of Finance, confirmed, On April 15, the trial operation of the “electronic delivery” system will be launched in companies selling goods and providing services to consumers. The mandatory application will begin on the first of next July; To ensure that the taxes paid by consumers on goods and services arrive at their outlets and submit them to the state’s public treasury, Consistent with efforts to integrate the informal economy into the formal economy, and more accurately delineate the tax community, laying the foundations for tax justice, and equal opportunities for financiers in the Egyptian market, usurpation of the right of the state, in a way that helps to increase the size of the gross domestic product, achieving economic and development goals, Contribute to strengthening aspects of public spending on improving the standard of living of citizens and upgrading the services provided to them.
Minister added, The “electronic receipt” system is based on the establishment of a central electronic system that enables the tax authority to follow up on all commercial transactions of companies selling goods and providing services with consumers (B2C), moment by moment, And verifying their validity through electronic integration with point of sale (POS) devices and automated accounting systems for issuing receipts with merchants and service providers. Pointing to the unification of the form and content of the electronic receipt according to the activity, the coding of goods and services as well, With the ability to retrieve the receipt data electronically and validate it using the “QRcode” feature, and establishing a database that contributes to protecting the rights of consumers, And motivate them to request a tax receipt.
Minister indicated, The “electronic receipt” system helps achieve many advantages for financiers, including: Facilitate tax examination procedures, in the shortest possible time, ending recurring fulfillment visits, electronic check of sales receipt files, electronic check of sales receipt files, facilitating the process of preparing and submitting tax returns, facilitating the process of preparing and submitting tax returns, which gives it legal validity, In addition to protecting consumers and ensuring their right to obtain a good service or commodity, Facilitating the return of “goods” that do not conform to specifications.
The minister explained, The joining of companies to the electronic receipt system, contributes to strengthening its tax position, Classified as a low tax risk company, It also assists them in developing mechanisms for issuing receipts, Verifying the validity of the items and data of the receipts for the dealing parties before issuing them, Facilitating internal or external audit procedures in companies, In a way that helps it conduct accurate reports and analyzes in the fastest time and with minimal effort.
Minister said, The “electronic receipt” system comes as a complement to the electronic invoice system that is integrated with it within the framework of the national project to modernize and automate “taxes.” He explained that more than 52,000 companies have registered on the electronic invoice system. It sent more than 154 million electronic invoices, Reflecting our success in this experiment, which Egypt was able to be among the first countries in Africa and the Middle East to implement it.
The Minister confirmed, We are keen on sustaining the quality of performance of electronic tax systems; to help achieve the desired goals, Which comes in the forefront of the integration of the informal economy into the formal economy, and that the gross domestic product (GDP) reflects the real size of the Egyptian economy, He explained that we aim to expand the electronic tax solutions. that limits human interference in the management of the tax system, It does not leave room to talk about the so-called arbitrary estimates, and ensuring the optimal operation of all these newly developed systems in accordance with the latest international experiences, practices and standards, and finding technical remedies for any challenges that unfold through practical application.