Arab Finance: The Egyptian Tax Authority (ETA) has decided to cut the minimum value threshold of electronic invoices required to include the buyer's national ID information from EGP 50,000 to EGP 25,000, Asharq Business reported, citing ETA’s Head Rasha Abdel Aal.

Under the new regulations, financiers are granted a three-month grace period to align their operations with the updated requirements before enforcement takes effect.

Sellers or service providers will not be required to collect a copy of the buyer's national ID card. Instead, the national ID information will be directly incorporated into the electronic invoice only when the transaction value meets or exceeds the revised threshold of EGP 25,000.

 This decision aims to enhance tax compliance and streamline financial transactions within the country.

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