PHOTO
ArabFinance: The government will no not be accepting paper invoices for claiming the deduction or refund of the value-added tax (VAT) under the electronic invoicing system starting January 2022, Egypts finance minister Mohamed Maait said in a March 10th emailed press release.
Only e-invoices will be relevant for VAT refunds, Maait confirmed.
The state will exclude paper invoices that were issued prior to the implementation of the e-invoicing scheme.
The minister said more than 411 companies have completed the process needed to integrate with the electronic system during the first two phases.
Egypt launched on February 15th the second phase of the e-system, under which 347 companies should be included. This followed the first stage that kicked off in November 2020, and was successfully accomplished.
Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).