{"id":568373,"date":"2020-12-28T03:57:21","date_gmt":"2020-12-28T03:57:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/"},"modified":"2020-12-28T03:57:21","modified_gmt":"2020-12-28T03:57:21","slug":"sign-up-for-e-invoicing-system-or-else","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/","title":{"rendered":"Sign up for e-invoicing system \u2014 or else"},"content":{"rendered":"

<\/a> The Finance Ministry is instituting a zero-tolerance policy on all large taxpayers that do <\/strong>not join the e-invoicing system by 1 July 2021<\/strong>, with plans in place to punish them and deny them basic services, benefits and incentives, Finance Minister Mohamed Maait said in a statement yesterday<\/a>. The government had planned to have all large taxpayers join the e-invoicing system, which is currently running a trial phase of 134 companies, by May 2021, Mohamed Keshk, who heads an internal audit department at the Tax Authority\u2019s large taxpayers\u2019 division told us. New penalties facing large taxpayers (which number at around 2,800 companies) include:<\/p>\n

#1- No longer being classified as a large taxpayer:<\/strong> The classification holds a number of distinct advantages that include expedited tax procedures, settlements, and less frequent auditing. These privileges will be taken away.<\/p>\n

#2- Inclusion in Tax Authority\u2019s black list:<\/strong> Part of the purpose of the system is to establish a black list of companies based on their level of compliance. These companies could face more frequent tax audits, and will become the focus of the ministry\u2019s enforcement efforts.<\/p>\n

#3- Cut off by the state: <\/strong>Government bodies and state-owned companies may cease all services and payments to these companies until they sign up for the e-invoicing system, the statement reads. This could include the company being barred from participating in state tenders and auctions.<\/p>\n

#4- Kiss export subsidies goodbye:<\/strong> Large taxpayers will not be eligible to receive export subsidies until they sign up for the e-invoicing system.<\/p>\n

What is this e-invoicing system, you ask?<\/strong> We have a primer on the system, it\u2019s purpose, the timeline of implementation along with a list of phase one companies here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 planned to have all large […]<\/p>\n","protected":false},"author":1,"featured_media":568374,"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":[8614],"tags":[72,276,277,343,871,69],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568373","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulation-watch","tag-enterpriseam","tag-finance-ministry","tag-mohamed-maait","tag-regulation","tag-regulation-watch","tag-tax","wpautop","entry"],"acf":{"mongo_id":"61c78b1b-ec60-46e8-9760-c995c81f34b9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/12\/458.jpg","photo_position":"above","related_issue":[568364],"teaser":"","voice_url":""},"yoast_head":"\nSign up for e-invoicing system \u2014 or else - 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\/28\/sign-up-for-e-invoicing-system-or-else\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sign up for e-invoicing system \u2014 or else\" \/>\n<meta property=\"og:description\" content=\"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 planned to have all large […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-28T03:57:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/458.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sign up for e-invoicing system \u2014 or else\",\"datePublished\":\"2020-12-28T03:57:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/\"},\"wordCount\":284,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/12\/458.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"Finance Ministry\",\"Mohamed Maait\",\"regulation\",\"regulation watch\",\"tax\"],\"articleSection\":[\"REGULATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/sign-up-for-e-invoicing-system-or-else\/\",\"name\":\"Sign up for e-invoicing system \u2014 or else - 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The decision will affect more than 3.7k companies, the names of which were\u2026","rel":"","context":"In "Tax"","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":557569,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/23\/and-so-it-begins\/","url_meta":{"origin":568373,"position":2},"title":"And so it begins...","author":"enterpriseam admin","date":"23 September 2021","format":false,"excerpt":"A pilot program for B2C e-invoicing has kicked off: The Finance Ministry has announced the rollout of electronic invoicing for business-to-consumer transactions, marking a new phase of the government\u2019s efforts to bring more Egyptian businesses into the formal economy and and make it more difficult to avoid giving the taxman\u2026","rel":"","context":"In "Tax"","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/325.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563808,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/25\/e-receipt-pilot-system-to-launch-within-6-months\/","url_meta":{"origin":568373,"position":3},"title":"E-receipt pilot system to launch within 6 months","author":"enterpriseam admin","date":"25 July 2021","format":false,"excerpt":"E-receipt pilot up and running within six months: The Finance Ministry will launch the pilot phase of its e-receipt system in the next six months to complement the existing e-invoicing program, the ministry said in a statement.Why the move? The new scheme aims to help the Tax Authority monitor and\u2026","rel":"","context":"In "Tax"","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":675444,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/13\/more-details-on-upcoming-package-of-tax-facilities\/","url_meta":{"origin":568373,"position":4},"title":"More details on upcoming package of tax facilities","author":"enterpriseam admin","date":"13 November 2025","format":false,"excerpt":"Under the latest round of facilities, some sectors will be exempt from invoicing","rel":"","context":"In "Tax"","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/2\/2510.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546774,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/29\/finmin-to-rollout-e-receipts-nationwide-by-mid-2025\/","url_meta":{"origin":568373,"position":5},"title":"FinMin to rollout e-receipts nationwide by mid-2025","author":"enterpriseam admin","date":"29 May 2022","format":false,"excerpt":"All companies will be required to implement the new e-receipt system for B2C transactions by July 2025, the Finance Ministry said in a statement Thursday outlining the timeline for the rollout of the real-time digital system. 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