Mokhtar Tawfik, Chairperson of the Egyptian Tax Authority, has called on the companies not registered on the electronic invoice system to quickly take the necessary measures to join the system so as not to be subject to litigation risks.
He pointed out that the first phase includes 153 companies, according to Resolution No. 289 of 2022, starting from last July.
Tawfik said, in a statement on Monday, that in accordance with the provisions of Article 35 of the Unified Tax Procedures Law, companies and other legal persons are obligated to register their sales on the electronic invoice system.
He added that the authority will be taking the necessary measures to implement the provisions of the law as well as against taxpayers who do not join the new system, in accordance with the provisions of the Unified Tax Procedures Law.
He explained that the system enables the Tax Authority to follow all commercial transactions and provide services to both sellers and consumers. He pointed out that the e-invoice system helps achieve many advantages for taxpayers, including facilitating internal and external audit procedures, easing tax returns submission, and reducing exposure to risks.