Mokhtar Tawfik, head of the Egyptian Tax Authority, called on financiers and taxpayers who are obligated to join the electronic receipt system in its first phase, to quickly join the system so that legal measures are not taken against it, pointing out that the implementation of the first phase of the system has started in the outlets for providing goods and services in 153 companies, in accordance with Resolution No. 289 of the year 2022 since 1 July.
Mukhtar Tawfiq stressed that according to 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 system, as well as Article 37 of the same law, which stipulates that every financier or taxpayer is obligated to issue a tax invoice or receipt in An electronic form, pointing out that the Authority will not hesitate to take measures that will recover the rights of the state’s public treasury, and will take all legal measures against financiers and taxpayers who are not committed to joining the electronic receipt system in accordance with the provisions of the Unified Tax Procedures Law
The head of the Tax Authority explained that the electronic receipt system is based on the establishment of a central electronic system that enables the Tax Authority to follow up all commercial transactions for selling goods and providing services between sellers in sales and service centers and between consumers (B2C), and verifying their validity through electronic integration with vending machines. At merchants and service providers «POS»,
Mukhtar Tawfiq said that the electronic receipt system helps achieve many advantages for the financiers, including: facilitating internal and external audit procedures, facilitating the process of submitting tax returns, strengthening the tax position of the taxpayer and reducing his exposure to a high level of risk with the authority.