Notice to Our Valued Clients and Insurance Brokers

Dear Valued Clients and Insurance Brokers,

Warm greetings,

We would like to inform you that, based on the official statements issued by the Head of the Egyptian Tax Authority, all companies (regardless of legal entity) and any individual holding a tax card (including self-employed professionals) are required to join the e-Invoicing System no later than December 15, 2022.

Accordingly, companies that have not yet registered — including those with no active business or revenues — must complete their registration with the e-Invoicing System before December 15, 2022, in order to avoid penalties that may reach up to EGP 100,000, as stipulated by the Unified Tax Procedures Law.

Furthermore, as stated by the Head of the Egyptian Tax Authority, starting April 1, 2023, only electronic invoices will be recognized for VAT deduction or refund, in accordance with the mandatory e-Invoicing regulations. He also confirmed that once all taxpayers are required to join the system, only electronic invoices will be accepted for:

• VAT deduction or refund

• Proof of costs or expenses in tax return submissions

We appreciate your prompt action to comply with these regulations and avoid any legal or financial consequences.