In Egypt, certain VAT-registered businesses must issue electronic tax invoices that include the electronic signature of its issuer and the standard code for the good or service subject to the invoice approved by the Egyptian tax authorities.

The Egyptian authorities had selected as part of the first wave 134 companies for mandatory e-invoicing rollout. KGT supported two significant taxpayers (large MNCs) and those companies have the SAP add-on solution operational.

That includes any problem solving from a round-off (standard SAP not in line with Egyptian tax rules) or other practical issues that came up. We have version 1.0 functional that contains the digital signature of the invoice. The lower version 0.9 does not require a digital signature.

The authorities have selected the next wave of 350 taxpayers. KGT has a proven solution and a process to implement quickly within 3 to 4 weeks.

The key benefits:

  • Digital Signature Integration
  • Decimal Points calculation to meet Tax Authority 5 decimal point requirements without changing SAP Rounding up or Down Configuration
  • Improved digital taxpayer experience
  • Validate invoice items and data for parties before issuing
  • Help company to make reports and quick accurate analysis for the purpose of decision-making support
  • Reduce the administrative burden, cost of transactions and the need to archive paper invoice
  • Reduce the administrative burden, cost of transactions and the need to archive paper invoice procedures

Source: KGT