All Egyptian firms must use e-receipt before April 2023: Maait

ArabFinance: All companies operating in Egypt will join the electronic receipt (e-receipt) system by the end of December 2022, Minister of Finance Mohamed Maait said in an emailed statement on August 23^rd.

As of April 1^st 2023, registration of costs and expenses in tax reports, as well as deduction or reversal of value-added tax (VAT), will be approved only through e-receipts, Maait added.

Maait noted that the government succeed in the application of the e-receipt system and 313 million e-documents were uploaded so far.

The e-receipt system is based on a centralized electronic system, enabling the Egyptian Tax Authority (ETA) to monitor all transactions of exchanging goods and services among sellers and consumers in real-time.

The new system will allow for the verification of transactions through electronic integration with points of sale (POS).

The e-receipt system is providing multiple advantages to suppliers, including the facilitation of tax inspection in the least time possible.