{"id":573433,"date":"2020-08-05T04:02:21","date_gmt":"2020-08-05T04:02:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/05\/tax-authoritys-electronic-tax-filing-system-will-become-mandatory-for-all-companies-by-november\/"},"modified":"2020-08-05T04:02:21","modified_gmt":"2020-08-05T04:02:21","slug":"tax-authoritys-electronic-tax-filing-system-will-become-mandatory-for-all-companies-by-november","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/05\/tax-authoritys-electronic-tax-filing-system-will-become-mandatory-for-all-companies-by-november\/","title":{"rendered":"Tax Authority\u2019s electronic tax filing system will become mandatory for all companies by November"},"content":{"rendered":"

Your company looks likely to begin filing taxes electronically through the Tax Authority\u2019s<\/strong> new online system as of November<\/strong>, according to a Finance Ministry statement<\/a>. Companies will submit tax returns and sales receipts electronically on the system, which will also give businesses the ability to complete audit requests online, eliminating the requirement to maintain physical receipts of sales invoices. The platform will also facilitate tax refund procedures, the statement says. The ministry began beta testing on the system in June with more than 130 companies (pdf)<\/a>, which have been filing their taxes through the new platform.<\/p>\n

About the platform:<\/strong> The new system is designed to streamline tax filing procedures, grant the taxman better oversight on commercial transactions, and bring informal businesses into the formal economy. This is part of the government\u2019s planned unified digital tax payment system<\/a>, which will enable businesses to file and pay income tax, stamp tax, VAT and real estate tax<\/a> through a single online platform.<\/p>\n

The Customs Authority<\/strong> is also getting an e-makeover under the new system<\/strong>, which will see 90% of exports and imports processed electronically by the end of December. Wait times for customs clearance are expected to be truncated to five days and precise parcel tracking will become possible as the system moves to a unified online platform. Estimated fees on incoming goods will also be disclosed ahead of time.<\/p>\n","protected":false},"excerpt":{"rendered":"

Your company looks likely to begin filing taxes electronically through the Tax Authority\u2019s new online system as of November, according to a Finance Ministry statement. Companies will submit tax returns and sales receipts electronically on the system, which will also give businesses the ability to complete audit requests online, eliminating the requirement to maintain physical […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[5623,5622,72,276,2380,69,288],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573433","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-e-filing","tag-electronic-filing-system","tag-enterpriseam","tag-finance-ministry","tag-speed-round","tag-tax","tag-tax-authority","wpautop","entry"],"acf":{"mongo_id":"ca72824d-252f-40d6-ac7e-2b0782dfe9b9","is_powered_by":true,"section_story_id":"435a8847-1d64-41a4-90c0-dacc5d503875","story_type":"1","photo_url":"","photo_position":"above","related_issue":[573420],"teaser":"","voice_url":""},"yoast_head":"\nTax Authority\u2019s electronic tax filing system will become mandatory for all companies by November - 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\/08\/05\/tax-authoritys-electronic-tax-filing-system-will-become-mandatory-for-all-companies-by-november\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Authority\u2019s electronic tax filing system will become mandatory for all companies by November\" \/>\n<meta property=\"og:description\" content=\"Your company looks likely to begin filing taxes electronically through the Tax Authority\u2019s new online system as of November, according to a Finance Ministry statement. 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second phase of its e-filing system in 1Q2021, said Mohsen El-Gayar, Director of Taxpayer Services at the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/81.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628831,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/finance-ministry-to-implement-overhaul-of-tax-filing-system-in-fy2019-20\/","url_meta":{"origin":573433,"position":1},"title":"Finance Ministry to implement overhaul of tax filing system in FY2019-20","author":"enterpriseam admin","date":"15 May 2018","format":false,"excerpt":"EXCLUSIVE- Finance Ministry to implement overhaul of corporate tax filing system in FY2019-20: The Finance Ministry\u2019s plan to revamp the tax filing system for corporations will take place in FY2019-20 to allow the ministry to adapt its administrative structure to the new changes, Tax Authority chief Emad Samy told Enterprise\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574214,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/02\/finmin-tasks-ernst-young-to-prepare-electronic-billing-and-taxation-platform\/","url_meta":{"origin":573433,"position":2},"title":"FinMin tasks Ernst & Young to prepare electronic billing and taxation platform","author":"enterpriseam admin","date":"2 September 2020","format":false,"excerpt":"The Finance Ministry tasked Ernst & Young with building its new electronic billing and tax payment platform \u2014 the mechanism through which companies and individuals will be filing their taxes, unnamed sources told the local press. 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