Local economists and finance experts estimate the size of the informal economy in Egypt at $395 billion. This represents about 50 percent of the country’s economy. This is a strong driver to mandate the usage of an electronic clearance system.

Egypt is one of the countries leading the way in the Arab world in implementing this system as part of a digital transformation project.

Currently, 134 companies are on board of the electronic clearance system. A total of 350 companies will be required to submit tax returns and sales receipts electronically as of February 2021. The third phase, which will start on 15 May 2021, will include the remaining top corporate taxpayers.

E-Invoicing News 2020-12 by Bruno Koch, Billentis