2 min read
  •  The ministry of finance has issued the decree no 188 of the Y 2023 on 9 Apr 2023, for a change in the executive regulations of the income tax law. As per this decree, “upon determining the taxable net financial and industrial profits of the taxpayers recorded in the e-invoice system, no documents other than the e-invoices shall be reckoned with in evidencing the deductible costs and expenses, with effect from July 1st, 2023. This shall not apply to the paper invoices previously issued by the taxpayers before the date of obligating them to issue e-invoices”.
 
  •  The ministry of finance has issued the decree no 188 of the Y 2023 on 9 Apr 2023, for a change in the executive regulations of the VAT law. As per this decree, “in all cases of tax withholding or refund prescribed by articles nos. (22 and 30) of the law, no documents other than the e-invoices shall be reckoned with in withholding or refunding the tax, with effect from July 1st, 2023, as regards those recorded in the e-invoice system. This shall not apply to the paper invoices previously issued by the responsible persons before the date of obligating them to issue e-invoices”.

 

  • The ministry of finance has issued the decree no 188 of the Y 2023 on 9 Apr 2023, for a change in the executive regulations of the unified law of tax procedures. As per this decree, “In addition to the data prescribed by article-37 of the Law, the e-invoice or e-receipt must contain the following most important:
  1.  code of the commodity/service.
  2. Registration of the exchange rate at the rates announced by the CBE, when the invoice is issued in foreign currency.
  3. Identification of the buyer (company – person – foreigner- etc.…)
  4. The national ID number of the buyer or beneficiary, or the passport number of foreigners, in case of unregistered persons, if the value of the invoice or receipt exceeds EGP 150,000
  5. Type of tax(s) or duties, if any.