{"id":567698,"date":"2020-12-03T04:15:30","date_gmt":"2020-12-03T04:15:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/03\/e-invoicing-system-gains-steam-with-july-21-deadline-for-state-entities\/"},"modified":"2020-12-03T04:15:30","modified_gmt":"2020-12-03T04:15:30","slug":"e-invoicing-system-gains-steam-with-july-21-deadline-for-state-entities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/03\/e-invoicing-system-gains-steam-with-july-21-deadline-for-state-entities\/","title":{"rendered":"E-invoicing system gains steam with July \u201821 deadline for state entities"},"content":{"rendered":"

The public sector is getting an e-makeover with new requirements to register on <\/strong>the Tax Authority\u2019s electronic invoicing system <\/strong>by the start of the next fiscal year in July 2021, the cabinet decided<\/a> at its weekly meeting yesterday. Local authorities will also be banned from contracting service providers of any kind who are not also registered on the system, cabinet added<\/a>. All public and private sector companies alike are expected to be in the system by April 2023, Finance Minister Maait had previously said<\/a>.<\/p>\n

The tax authority\u2019s e-invoicing system is attempting to curb tax evasion.<\/strong> The first trial phase of the system was launched last month<\/a> with 134 companies, while the second phase will include an additional 340 entities, and is expected to launch in February 2021<\/a>. The government is attempting to develop a unified digital tax payment system, which will enable businesses to file and pay income tax, stamp tax, VAT and real estate tax through a single online platform.<\/p>\n

MEANWHILE- More middle-income households now have access to social housing <\/strong>after the government raised the maximum monthly individual and household incomes to be eligible for President Abdel Fattah El Sisi\u2019s \u201ca home for every Egyptian\u201d initiative. The monthly income threshold for families is now EGP 14k, up from EGP 9k, and EGP 10k for individuals, up from EGP 7k.<\/p>\n

Also approved by cabinet:<\/strong> A decision to begin the process to sign long-term supply agreements with several private sector energy companies building renewable energy plants under build-own-operate frameworks.<\/p>\n","protected":false},"excerpt":{"rendered":"

The public sector is getting an e-makeover with new requirements to register on the Tax Authority\u2019s electronic invoicing system by the start of the next fiscal year in July 2021, the cabinet decided at its weekly meeting yesterday. Local authorities will also be banned from contracting service providers of any kind who are not also […]<\/p>\n","protected":false},"author":1,"featured_media":567699,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7306],"tags":[282,7097,104,72,7111,190,98,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet-watch","tag-development","tag-economy","tag-enterpriseam","tag-infrastructure","tag-social-welfare","tag-subsidies","tag-tax","wpautop","entry"],"acf":{"mongo_id":"8d27025a-78af-4fe1-9908-1aea28030fe7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/73.jpg","photo_position":"above","related_issue":[567679],"teaser":"","voice_url":""},"yoast_head":"\nE-invoicing system gains steam with July \u201821 deadline for state entities - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/03\/e-invoicing-system-gains-steam-with-july-21-deadline-for-state-entities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"E-invoicing system gains steam with July \u201821 deadline for state entities\" \/>\n<meta property=\"og:description\" content=\"The public sector is getting an e-makeover with new requirements to register on the Tax Authority\u2019s electronic invoicing system by the start of the next fiscal year in July 2021, the cabinet decided at its weekly meeting yesterday. 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Register on the Tax Authority\u2019s electronic invoicing system before July, Tax Authority boss Reda Abdel Kader said, according to Al Shorouk. The move is in line with a recent cabinet decision banning local authorities from entering into contracts with parties not registered on the system\u2026","rel":"","context":"In "REGULATION WATCH"","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/268.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568373,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/","url_meta":{"origin":567698,"position":1},"title":"Sign up for e-invoicing system \u2014 or else","author":"enterpriseam admin","date":"28 December 2020","format":false,"excerpt":"The Finance Ministry is instituting a zero-tolerance policy on all large taxpayers that do not join the e-invoicing system by 1 July 2021, with plans in place to punish them and deny them basic services, benefits and incentives, Finance Minister Mohamed Maait said in a statement yesterday. The government had\u2026","rel":"","context":"In "REGULATION WATCH"","block_context":{"text":"REGULATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/458.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564068,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/the-tax-authority-stick\/","url_meta":{"origin":567698,"position":2},"title":"The Tax Authority stick","author":"enterpriseam admin","date":"5 August 2021","format":false,"excerpt":"The Tax Authority referred 10 more companies to the prosecution this week due to their failure to comply with the authority\u2019s e-invoicing system, Tax Authority head Reda Abdelkader said in a statement (pdf) today.This brings the total number of non-compliant companies to 53 across all three registration phases, he adds.\u2026","rel":"","context":"In "SPEED ROUND: TAXATION"","block_context":{"text":"SPEED 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