What is meant by the E-invoice?
An e-invoice is a digital (electronic) document that proves transactions in the sale and purchase of products and services, the e-invoice has components and features, which are prepared and signed electronically, sent and received it on time through the e-invoice system by the financier.
The Egyptian Tax Authority also reviews and checks e-invoice instantly.
Is subscription to the e-invoice system mandatory?
Yes, all companies must join e-invoice system
& to regulate the admission of all companies, the Egyptian Tax Authority announced participation in the electronic system in three phases:
1:- Phase One: This phase has a group of 134 top financiers and has already been completed and these companies have started issuing their e-invoices
2:- Phase 2: This phase includes a group of 347 companies, and these companies will begin work on the e-invoices system in mid-February
3:- Next comes the third and final phase, and all companies are expected to join the system in mid-July 2021
Why should the financier join the electronic bill system?
Companies that do not join the e-invoice system will be excluded from the center of the top financiers, and dealings between state institutions and companies that have not joined the e-invoice system will also be completely discontinued.
Are there companies that have already started working on the e-invoice system?
More than 100 companies have already started the e-invoice system depending on the first phase, which involved top financiers
Is there a fee to subscribe to the e-invoice service?
The Egyptian Tax Authority has not announced any fees for joining in e-invoice system.
What is the importance of SoftMagic’s ERP software with the e-invoice system?
The integration of ERP software and the e-invoice system enables send invoices at the same moment, thus providing a lot of input, review and data export steps where the two systems are integrated using a range of APIs, and this integration allows for easy data transfer from the company to the Egyptian Tax Authority
What is SoftMagic’s ERP software role in the e-invoice system?
There is no relationship between SoftMagic and the Egyptian Tax Authority; SoftMagic does not play a supervisory role over financiers
We provide ERP software to regulate work on the e-invoice system and achieve a high level of operational efficiency to do business faster and issue invoices instantly through the integration of the two systems.
How are invoices entered electronically when there is an error in the e-invoice system?
When there is an internal errors with the e-invoice system, companies can then remove the invoices in the form of a payment of invoices aggregated according to the period specified by law.
Should financiers know the steps of registration in e-invoice system and how the financier can make a complaint or request an inquiry?
The financier should not know the steps of registration nor should they do the registration process himself, as the commissioner does the job.
Also the financier can make inquiries, complain or make proposals, or request technical support via the Egyptian Tax Authority email firstname.lastname@example.org
What is meant by the financier and what is meant by the commissioner?
The financier is the taxpayer and the Commissioner is the competent person within the Egyptian Tax Authority to register the financier on the e-invoice system
What is meant by an e-signature?
It is the official signature of the financier, takes the form of an encrypted message, which complies with legal regulations, and provides the highest level of confirmation of the identity of the signatory.