Cairo –  The Egyptian Minister of Finance, Mohamed Maait, announced that paper invoices will no longer be accepted for the deduction or refund of the value-added tax (VAT) under the electronic invoicing system starting from next year.

Only e-invoices will be accepted for VAT refunds or deductions as of 1 January 2021 except for paper invoices previously issued by companies or institutions before being obligated to apply the e-invoicing system, Maait confirmed.

About 411 companies have completed procedures to use the e-invoicing system in two phases, Maait noted.

On 15 November 2020, the Egyptian Tax Authority required 134 companies of the top corporate taxpayers to issue electronic tax invoices.

The second phase of making e-invoices obligatory, which began on 15 February 2021, included 350 companies, while the third phase, which will start on 15 May 2021, will include the remaining of the top corporate taxpayers.

Source: Mubasher

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