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JLCC
- June 7, 2023
Mukhtar Tawfiq, head of the Egyptian Tax Authority, confirmed that the authority is keen to spread correct tax awareness and explain everything related to the electronic invoice system, especially to exporters and importers, especially after the networking between the databases of the electronic invoice system and the customs system (window), where the Egyptian Tax Authority organizes two seminars on Line weekly for exporters and importers on Sunday and Wednesday to explain the electronic invoice system and link it with a window system. These seminars, their dates and their link will be announced on the Authority’s official pages on (Facebook, Twitter, and Instagram) and on the Authority’s website, pointing out that starting from July 1 Next, taxpayers who do not join the electronic invoice and who do not deal or issue electronic tax invoices will be prevented from dealing with the customs authority and the customs system (window), whether in import or export.
The Head of the Tax Authority pointed out the keenness of the Ministry of Finance and its unremitting efforts to unify the databases of tax and customs payers, and to link the system (electronic invoice) that monitors commercial transactions of companies in real time, and the unified electronic platform for national trade (window) that monitors exports and imports in real time as well, which helps To match invoice values with the codes of imported items, thus contributing to reducing tax evasion rates and maximizing the state’s public revenues.
Mukhtar Tawfiq clarified that only electronic invoices will be considered in establishing deductible costs and expenses, as well as in deducting or refunding value-added tax as of July 1, 2023, indicating that the application of the electronic invoice system aims to eliminate arbitrary estimates and works to establish tax justice. Based on the electronic invoice, it is matched with the tax returns submitted by all parties to commercial and service transactions.