Companies that miss the deadline will face penalties, Maat pointed out
The Minister of Finance Mohamed Maait warns companies to sign up for the government’s e-invoicing system or face prosecution.
The minister reminds major tax payers that they must commit to joining the system by mid-April. The ministry is planning to get all 2,800 large taxpayers registered to use the platform by 1 July, before gradually rolling it nationwide
Companies that miss the deadline will face penalties, Maat pointed out.
The minister has previously noted that penalties include losing the “large taxpayer” classification, inclusion into the Tax Authority’s black list, and be ineligible for export subsidiaries.
Losing the classification can lead to losing perks such as expedited tax procedures, settlements, and less frequent auditing.
A decision had been issued to compel them to join the system as part of the second phase, starting from the middle of last February. This would take place according to Article 72 of the Unified Tax Procedures Law No 206 of 2020.
The minister said that, according to the provisions of Article 35 of the Unified Tax Procedures Law, companies and individuals are required to register their sales and purchases on the electronic system.
Article 37 of the same law stipulates that every taxpayer is obliged to issue a tax invoice or receipt in an electronic form.
Maait called on companies to quickly take all the necessary steps to join the electronic invoice system, and implement integration with it.
The minister stressed the importance of joining the e-invoice system, as starting from July there will be many procedures and advantages to joining the system. Companies cannot benefit from these procedures or advantages unless they are part of the new system.
