Sunday, 29 May 2022

By governorate and industry, here’s how companies are being roped into Egypt’s e-invoice system for B2C transactions

The roadmap: Companies across Egypt will be gradually on-boarded onto a new system that will see them required to report all B2C transactions to the Tax Authority. New intakes will take place every quarter through July 2025:

  • 1 October 2022: The Tax Authority will on-board another 400 companies in Cairo and Alexandria governorates. The authority will announce the list of companies on its website;
  • Mid-January 2023: Another 2k taxpaying entities in the two cities will join the system;
  • Mid-April 2023: All Cairo and Alexandria-based businesses will join the system on a sector-by-sector basis over the course of around a year, starting with healthcare providers, restaurants and hotels in April;
  • Mid-July 2023: Transportation companies, automotive firms, education providers and sellers of precious metals will join, among others
  • Mid-October 2023: Sellers of consumer durables, clothing and alcoholic beverages join;
  • Mid-January 2024: Grocers, furniture companies, insurers, booksellers and newspapers join, among others;
  • Mid-July 2024. Firms based across the rest of the country will join the system along the same quarterly schedule from the middle of July 2024. This will mean that all companies in the country will have joined the system by mid-July 2025.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.