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About 500 companies currently use Egypt's invoice system

About 500 companies currently use Egypt's invoice system
Minister of Finance, Mohamed Maait

Cairo – Mubasher: The Egyptian Minister of Finance, Mohamed Maait, said that the number of companies that submitted electronic invoices in the first and second phases of the e-invoice system reached about 500.

The number of e-invoices handled through the system amounted to more than 6 million, Maait added in a statement on Wednesday.

He confirmed that the deadline for top taxpayers to join the e-invoice system is 15 May.

A total of 10 companies have already been referred to the prosecution for not adhering to the e-invoice system in the second phase and procedures are underway to refer another five companies.

The e-invoice system aims to integrate the informal economy and combat tax evasion.