Egypt | VAT
December 03, 2024
New Bank Accounts Introduced for VAT Payments on Digital Services in Egypt
Non-Resident Vendors must adhere to currency-specific transfers to comply with the Egyptian Tax Regulations.
By Sara Abdelfattah
| Image Credits: "Central Bank of Egypt" by iTripleM
The E-Commerce Tax Unit at the Egyptian Tax Authority has officially notified all registered non-resident vendors under the simplified tax registration system of newly established bank accounts for paying Value-Added Tax (VAT) on digital services provided in Egypt.
This initiative aims to streamline the payment process and ensure the secure and prompt transfer of VAT to the Egyptian Tax Authority.
The announcement emphasizes that VAT payments must be made in the same currency used for charging the service fees, in accordance with Ministerial Decree No. 518 for 2023.
This regulation mandates that the currency in which the service value is collected is the only currency acceptable for VAT payments.
To facilitate the process, the following foreign currency accounts have been introduced:
For USD ($) Transfers:
- Beneficiary Bank Name: Central Bank of Egypt
- Beneficiary Cust Name: Ministry of Finance/Egyptian Tax Authority
- Account Number: 4/082/18916/5
- IBAN Code: EG140001000100000004082189165
- SWIFT Code: CBEGEGCXXXX
For Euro (€) Transfers:
- Beneficiary Bank Name: Central Bank of Egypt
- Beneficiary Cust Name: Ministry of Finance/Egyptian Tax Authority
- Account Number: 4/082/18917/8
- IBAN Code: EG510001000100000004082189178
- SWIFT Code: CBEGEGCXXXX
For GBP (£) Transfers:
- Beneficiary Bank Name: Central Bank of Egypt
- Beneficiary Cust Name: Ministry of Finance/Egyptian Tax Authority
- Account Number: 4/082/18918/1
- IBAN Code: EG670001000100000004082189181
- SWIFT Code: CBEGEGCXXXX
The E-Commerce Tax Unit underlined that, at present, bank transfers to the designated accounts are the only method available for paying VAT in Egypt.
Non-resident vendors are also reminded to verify the email notification and ensure they use only the specified accounts.
For more information, you can reach out to the following contacts:
About Authors:
Sara Abdelfattah
Tax Officer and Coordinator & Member of E-Commerce Unit | Egyptian Tax Authority
Ms. Abdelfattah is a Tax Officer and Coordinator at the Egyptian Tax Authority, specializing in international taxation with over a decade of experience. As a key member of the E-Commerce Tax Unit, she plays a pivotal role in coordinating with global digital platforms on tax compliance in Egypt’s digital economy. Sara also manages the E-Commerce Unit’s LinkedIn page and organizes events. She holds a Master’s degree in International Taxation and Digital Economy from Cairo University and is a certified Transfer Pricing Specialist. With additional certifications in international taxation, BEPS, digital transformation, and anti-money laundering from renowned institutions such as the OECD and Guardia di Finanza in Italy, Sara has been instrumental in drafting Egypt’s international tax agreements, further establishing her expertise in the field.
Egypt | VAT
Egyptian Tax Authority (ETA) Rolls Out a Transparent, Hassle-Free VAT System for Global Providers of Digital and Remote Services.
Italy | VAT
Italy Seeks Nearly €1 Billion in VAT payments from Meta, X, and LinkedIn, Targeting Transactions from 2015 to 2022
Egypt | Tax Policy
Fostering Trust, Partnership, and Business Confidence Through Fair and Efficient Tax Services
EU | Customs
The European Commission extends tariff suspension on U.S. imports until April 14, 2025, aiming to resolve trade tensions and avoid escalation
OECD BEPS | Turkey
Amount B will not be applied to transactions involving distributors, sales agents, and brokers operating in Turkey
Saudi Arabia | Big 4
The ban could lead Saudi authorities to implement stricter compliance regulations for consulting firms
EU | Transfer Pricing
MNEs will be required to submit their first top-up tax information return by 30 June 2026, tax authorities will need to exchange this information by 31 December 2026
EU | Tax Policy
Focus on Green Transition, Addressing the VAT gap, and Commitment to Global Tax Reform are some of the priorities
Reach your target audience
Contact us at hello@taxspoc.com