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January 2024
- 17 Sep 2024 - Permanent Establishment Provision
The ministry of finance has issued the decree no 188 of the Y 2023
- 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:
- code of the commodity/service.
- Registration of the exchange rate at the rates announced by the CBE, when the invoice is issued in foreign currency.
- Identification of the buyer (company – person – foreigner- etc.…)
- 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
- Type of tax(s) or duties, if any.
The ministry of finance has issued the decree no 160 of the Y 2023
22 March 2023
The ministry of finance has issued the decree no 160 of the Y 2023 on 22 Mar 2023, that including a guidance for the VAT on the digital & other remote services (the services) provided by non-residents. In accordance with this guidance, A) in case the non-residents will render the services as B2C, then the non-resident service provider must register under the simplified registration for the VAT purpose at the Egyptian Tax, where he will be obliged to collect and remit the due VAT on such services noting that such obligation to register will come into effect by 22 June 2023. B) In case the non-residents will render the services as B2B, then the service recipient must account for the VAT on such services as per the reverse charge mechanism. Noting that the non-resident may voluntarily register under the simplified registration and in this case, he will be obliged to collect and remit the due VAT on such services and the service recipient will not account for the due VAT in such case.
The decree no 137 of the Y 2023 on 13 Mar 2023 and the decree no 175 of the Y 2023
30 March 2023
requiring a total of 316 companies (100 am 316 respectively) to apply the new unified salary tax calculation regime where some of them are required to apply it from Mar 2023, while other required to apply in May 2023, and the rest to apply it in June 2023. However, all the taxpayers will be required to apply the new unified salary tax calculation regime in the future via decrees to be issued by the ministry of finance
The ministry of finance has issued the decree no 20 of the Y 2023
11 January 2023
for a change in the executive regulations of the unified law of tax procedures. As per this decree the taxpayer becomes obliged to declare the employees’ salary tax as calculated under the unified salary tax calculation regime. However, in that regard the ministry of finance has issued
