Business Hub _ Cairo
Reda Abdel Qader, head of the Egyptian Tax Authority, announced that the 7-day period granted to financiers to send electronic invoices to the system will be gradually reduced. Until it is canceled so that the financiers send the electronic invoices in real time.
Abdul Qader explained that the 7-day period granted to financiers to send electronic invoices to the system will be reduced to six days from the date of issuing the electronic invoice, starting from 1/7/2022. And starting from 1/8/2022, the deadline becomes five days from the date of issuing the electronic invoice. And starting from 1/9/2022, the deadline becomes four days from the date of issuing the electronic invoice, And starting from 10/1/2022, the deadline becomes three days from the date of issuing the electronic invoice, And starting from 1/11/2022, the deadline becomes two days from the date of issuing the electronic invoice, And starting from 12/1/2022, the deadline becomes one day from the date of issuing the electronic invoice, Noting that, starting from 1/1/2023, invoices are sent instantaneously (during the same day of issuance).
The head of the Egyptian Tax Authority indicated that the electronic invoice system aims to establish a central system that enables the Tax Authority to follow up on all commercial transactions between companies. This is done by exchanging the data of all invoices in real time in digital format. Stressing that this system will help in the digital transformation of commercial transactions and dealing with the latest technical methods, and verify the validity of the data of the invoice issuer, recipient and its contents formally, Adding that the application of the system aims to eliminate the parallel market and the informal economy and achieve the principle of equal opportunities and justice among companies operating in the Egyptian market, Facilitate and expedite tax procedures.
Abdel-Qader said that the authority is implementing the electronic invoice system in a phased manner so that it will be generalized to the entire tax community. Pointing out that the implementation of the sixth phase of the system began on February 15th, And that the seventh phase of the system starts from June 15, 2022
The Head of the Tax Authority stressed that the Ministry of Finance and the Tax Authority provide all facilities and support to companies for the mandatory joining of the electronic invoice system, whether through the technical support office at the Senior Taxpayers Center or field visits. And through the integrated call center on 16395 or through e-mail