In the digital transformation era, Egypt has become one of the leading countries in the Arab world in applying the electronic invoice system, which provides close support and follow-up from the political leadership, the e-invoice system is one of the most important projects to advance and support the Egyptian tax system and the financial system, to achieves the Egyptian government’s goals in digital transformation.
What is an Electronic Invoice?
E-invoice is a digital electronic document that proves the transactions of buying and selling goods and services. The electronic invoice is prepared and signed electronically, sent, and received in real-time through the electronic billing system with the knowledge of the financier. The Tax Authority also reviews and verifies electronic invoices in real time.
The Chairman of the Tax Authority explained the advantages that companies benefit from joining the electronic invoice system:
1- Assists financiers in verifying the validity of billing data for the dealing parties before issuing them.
2- Strengthening their tax positions by classifying them among the companies with low tax risks.
3- Facilitate the procedures for settlements between companies with regard to value-added tax.
4- Updating the method of exchanging invoices between companies, in addition to reducing the administrative burden, reducing the cost of transactions, and gradually dispensing with archiving paper invoices.
5-Simplifying the procedures for examining companies with the possibility of “remote examination”, facilitating “tax refund” procedures, the process of preparing and submitting returns, and ending the traditional procedures with companies to complete invoices.
Are you wondering about how to join the E-Bill system? Let us clarify for you the steps:
If you are the owner of a company or factory there are several steps that must be adhered to in order to help you obtain the electronic tax invoice:
1- Extracting an electronic signature certificate.
2- Use of the GSI coding system.
3- Implementation of company registration procedures in the electronic invoice system using the tax registration number.
4- Provide the necessary data to register the system administration official in the company’s electronic tax invoice.
5- You must be integrated with the tax invoice system through the ERP system.
For that reason, SBS supports full integration with the system by applying the digital electronic invoice through the ERP system by integrating with electronic signatures and gaining the necessary powers to communicate with the tax system. If you have an accounting system or an ERP system, we can connect your system with the tax invoice.
Also, if you do not have an accounting system or an ERP system, we will provide you with the best-integrated ERP system with electronic tax invoices.
Lastly, it is important to establish an electronic invoice system integrated with the ERP system before the end of 2022, to help you view the tax invoice in a second and be able to save, review and print the invoice data at any time, and with the ERP system from SBS, we will be ready to connect with the electronic tax invoice system in the shortest time and with the best programmers specialized in the ERP system.
