Egypt to mandate eReceipts for B2C transactions from July, 2022
The Egyptian Minister of Finance just announced the launch of the eReceipts system for a trial period starting from April 15, 2022 until July 1, 2022. After July 1, 2022, the reporting of all B2C transactions through it will become mandatory.
The Egyptian Tax Authority (ETA) aims to capture all B2C transactions of goods and services sold to taxpayers in Egypt into a centralized system. The goal is to fully integrate the informal economy into the formal economy, prevent tax evasion, and unify receipts issued to end consumers. This will be done by connecting the seller’s POS software to the eReceipt system which in turn sends tax details to the ETA in real time. In addition, a QR code will also be added as proof of validation by the ETA, which the receiver can use to validate the receipt.
The eReceipt system complements the e-invoicing system which the ETA has previously rolled out for B2B companies. Earlier this year, the Tax Authority announced the last phase of B2B taxpayers’ registration to the platform. Currently, more than 52k companies are registered on it and have reported more than 154M e-invoices.
Automated real-time invoice reporting solution in Egypt
We are aware that new regulations like this have a substantial impact on how businesses operate. That’s why we built Fonoa Reporting, a solution that automatically reports sales transactions to tax authorities around the world - immediately and without human intervention.
If your business is affected by the new obligations in Egypt, reach out to us.