Egypt MOF Announces E-Invoicing Framework to Combat Tax Evasion

The Egyptian Ministry of Finance Aug. 30 announced the e-invoicing framework to combat tax evasion. The announcement includes measures to: 1) require companies with annual revenue of up to 500,000 Egyptian pounds (US$31,796) to register for VAT; 2) impose a fine of between 20,000 pounds (US$1,273) and 100,000 pounds (US$6,369) or imprisonment from three to five years for noncompliance; and 3) require companies to join the e-invoicing system by Sept. 15. [Egypt, Ministry of Finance, 08/30/21]

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